The big problem with an SPIA is that 20%-30% of the purchase price is lost to the insurance company's various fees, expenses and costs.If one isn't willing to manage their own money, and one isn't willing to have a financial adviser manage their money, and one still wants monthly income, then, expensive as they are, annuities may be the best option available.I suppose another available option would be 'money under the mattress' - at least until it runs out.You pays your money and you takes your choice.AJ
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