Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Eldercare
Reply to "I’m young (27) and my parents (60 & 61) have told me that the will “never be able to retire”"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]Especially with higher interest rates now available, they should consider annuitizing the $400k (which should be more like $500k when the time comes). If they got a guaranteed 6% from that, that's $30k per year. Plus $30k per year from Social Security, now they've got $60k per year income and no mortgage or rent payment. There's literally no problem there whatsoever. [/quote] Do not turn all their savings into an annuity. They will lack money for emergencies, for instance. They could consider devoting part of their nest egg to an annuity if they want to raise the level of their guaranteed income every year, but lots of annuities come with hidden fees and aren't a great deal for the consumer, so buyer beware.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
