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Reply to "Should my mom buy an annuity?"
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[quote=Anonymous]agree with all who say run away ... in a decently diversified low expense fund like a Vanguard fund she can draw $32-40k a year out of her $1M (based on a traditional conservative 3-4% annual draw) and likely never run out of funds, plus remainder can go to kids/grandkids. I don't trust most annuities and even on top of the other risk factors there's the risk of the underwriter going out of business during the course of the payout, taking your principal with them ... [/quote]
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