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Subject:  Really Bad Annuity Advice Date:  9/13/2013  10:14 AM
Author:  intercst Number:  72802 of 88772

... and it's not even from Laurence Kotlikoff.

An 8.3 Percent Return on Your Money, Guaranteed for Life?

Lew Mandell: Yes, there is a way for older Americans to receive guaranteed lifetime income that, for many of us, is more than three times the current rate on 10-year Treasuries. It is through the purchase of a Single Payment Immediate Annuity (SPIA), perhaps the least-known, best retirement deal on the market today.


As one of the commenters to the article points out, the internal rate of return for a 70-year-old living 15 years to his median life expectancy of age 85 is less than 3%.

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