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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: Info needed Date: 8/9/2008 10:27 PM
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<<And they represent MOST people?
Just asking. I know lots more people than that who are doing nicely. Or, at least, who are not squandering what they have.

I guess my point is that, if a person has had the fortitude to actually amass a good deal of money, what makes you (or the OP) think they are not capable of managing to withdraw from it intelligently without resorting to an annuity?

That's all.

AM>>


I'm not a big fan of annuities, because of their expense, risk and relatively low investment returns.

Aside from that, they have a good deal to recommend them.

intercst is drawing attention to the current Social Security provision which allows all Social Security benefits paid to be reimbursed at age seventy or so and to gain a higher, inflation indexed benefit at that time ---esssentially buying an annuity cheap and at low cost that inflation protected.

I might consider doing that if it still looked like I had additional years until my life expired. So I think there might be advantages in having an annuity or something that might act as an annuity.


<<And they represent MOST people?
Just asking. I know lots more people than that who are doing nicely. Or, at least, who are not squandering what they have.
>>

Yes, there are a good many people who manage their money and assets prudently and do fine. I'm not sure how high that percentage is, though. There are lots of people eking out life on Social Security and very little else. I seem to recall that something like 70% of those collecting Social Security have little or nothing else for income, although they may own their home I think.


And then there are people who accumulate some wealth and are cheated out of it, one way or another.

There are always plenty of ways to screw up, it seems. And I include myself in that number.



Seattle Pioneer
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