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[quote=Anonymous]My current plan is to, at the point of retirement, purchase an immediate annuity from Vanguard to fill the gap between my social security payment and my very bare bones budget needs (without factoring in inflation).  Every five years or thereafter so I'll consider purchasing an additional small annuity to cover any gaps due to inflation or increased cost.   This action allows me to feel comfortable taking more risks with my investment portfolio so it makes sense for me--I'll know that no market downturn will completely erode my livelihood.  I also like the idea of having additional income that does not get figured into asset calculation so if we were in the situation where one spouse had really expensive nursing home care and ended up needing medicaid.

But immediate annuities are not very complex and have low fees.  I wouldn't do any other except maybe, maybe a very cheap deferred annuity for old age just in case I live to be 100+ like a number of my relatives.[/quote]

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