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Author: ziggy29 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79088  
Subject: Re: Drop Stocks, Buy an Annuity? Date: 7/16/2011 2:11 PM
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>> The cheapest annuity you can buy is to delay your Social Security benefits until age 70. <<

Agreed. But even that is a fairly small annuity, maybe $5000 a year, give or take for most folks. That "annuity" on top of SS at the standard retirement age is not nearly enough to live on by itself.

And for the increasing number of pensionless (I'm noting how almost all the people I hear retiring voluntarily these days have pensions) who want a guaranteed, secure income steam that meets or exceeds their annual expenses, what are the options? That's even more true these days when the pensionless are feeling more vulnerable than at any time in the post-WW2 economy and are feeling like retirement is an increasingly impossible dream.

The thought of buying the security of a pension is very seductive, if nothing else, and the annuity peddlers know it.

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