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Author: cltdan Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77550  
Subject: Re: _Die Broke_ by Stephen M. Pollan Date: 12/6/1997 12:58 AM
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<<The RADICAL WISDOM (RW) offered by Pollan is that we
should take the money we have when we turn 70 and
buy annuities instead. The advantage is that we no
longer run the risk of out living our money!! At
this moment a 70 year old can buy an annuity that
will pay 12% !!!! for the remainder of his life. At
this high rate we also don't need nearly as much
money to generate the same amount of retirement income
as does someone who follows the CW. This means
you can spend more now while you are alive, rather
than passing it along to your heirs and uncle same
when you are dead.>>

Is the full text of Mr Pollan's ideas available somewhere?
I have thoughts along the same lines, not converting totally to a fixed annunity at age 70 but say 10% and another 15% at age 75 etc. The fixed annunity in a way adds to pension that is not inflation protected. I know of no other way to spend most of my money and yet not be short before I pass away, except with fixed annuity. Welcome comments.
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