"The Millionaire retiree doesn't have to live on the interest alone; he can spend his principal too. If he wants to put it in an annuity, doesn't have a spouse, is male, lives in Maryland, is 65 and says "screw my heirs" he could get $6,406 a month for life, easy."Not inflation indexed....If we have 10 or 20 years of 7% inflation...or worse....under Obama and his spendaholic drones......Your money will be not enough to even pay the rent or real estate taxes...If we have 25% inflation like many SOuth American countries or Greece...well, your money won't even buy you groceries....t.
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