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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76080  
Subject: Really Bad Annuity Advice Date: 9/13/2013 10:14 AM
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... and it's not even from Laurence Kotlikoff.

http://www.pbs.org/newshour/businessdesk/2013/09/an-83-perce...

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.

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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%.

intercst
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