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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 63131  
Subject: Re: Millionare retiree living in poverty Date: 7/27/2011 11:43 PM
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telegraph complains,

"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...

</snip>


A 65-year-old male can get an inflation-protected annuity paying $4,190 per month ($50,300/yr) on a $1 million premium.

http://www.principal.com/retirement/incomeannuity/elm/income...

intercst
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