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Old 11-27-2007, 04:58 PM
Hector Herrera
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Default Re: Annuity with lifetime withdrawal and Guaranteed Benefit?

Ron Peterson <ron[at]shell.core.com> wrote:

- quote -

> On Nov 21, 4:52 am, louise <lou...[at]invalid.invalid> wrote:
> > I'm 64.5 and recently received a few hundred thousand in
> > life insurance which I need to keep safe, but also need to
> > use earnings to help with living expenses. Thus the
> > possible annuity.

> Use some of that money to postpone Social Security payments. That will
> increase your Social Security payments when you do start taking them.


Thanks to all for an excellent discussion on what to me are
difficult and complicated decisions. One quick note about the SS
payments, though. My parents died in their mid-seventies, so I
have to infer (even though I don't smoke and do have a more active
lifestyle) that I won't live more than a few years beyond what they
got. Examining the money to be gained by postponing the Social
Security, it looks as if I would have to live into my mid-eighties
to profit thereby. Add to that the possibility that Congress will change
the rules before I tap into the pot, it would seem wiser to 'take the
money when you can get it'.

(And the worst-case scenario? I get hit by a drunk driver at age 68,
and don't get a penny of my money back!)

HH

  #-1  
Old 11-24-2007, 03:56 AM
Ron Peterson
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Posts: n/a
Default Re: Annuity with lifetime withdrawal and Guaranteed Benefit?

On Nov 21, 4:52 am, louise <lou...[at]invalid.invalid> wrote:

- quote -

> I'm 64.5 and recently received a few hundred thousand in
> life insurance which I need to keep safe, but also need to
> use earnings to help with living expenses. Thus the
> possible annuity.


Use some of that money to postpone Social Security payments. That will
increase your Social Security payments when you do start taking them.

--
Ron

 

Tags
annuity, benefit, guaranteed, lifetime, withdrawal
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