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RV: Never have understood why people buy annuities. We've had AT&T stock for years. Pays a nice 5% or more every year, with quarterly payments, and not apt to go anywhere. I also like BGS (B&G Foods), which pays that and more.

My annuity story goes like this: At one time in my career (Maybe 30 years ago) I changed jobs. There was an after tax savings plan which had about $40K. I asked our advisor (Read as mutual fund salesman) what to do with it and he suggested we buy a variable annuity. with Lincoln Financial Group. (The annuity is called American Legacy II) So I plunked down my $40K and let it soak. His advice was not to annuitize it, just let it soak. The money was invested in a number of portfolios - one was growth based, one income based and one was a mixture of growth and income. After while they wanted to send me money every month, so we started getting $480 a month of income. By now the cash value is $117K. We have enjoyed $63K of withdrawals, and the current value is $120K.

So, long story short, we are satisfied. My wife just turned 65 (She is the annuitant) and they want us to start annuitizing it. We are still trying to decide how to handle it. We don't need any more income right now, so we went back to our advisor. He is working up a plan for us. Meanwhile we get $480 a month.

Decisions, decisions.

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