to op:I just turned 65 and will collect my first social security check this month. It's not huge due to a variety of factors, but its enough to pay my fixed expenses. In addition, I have accounts at Vanguard and Fidelity invested in a 5 fund portfolio of domestic (75%) and foreign stocks (25%), domestic and foreign bonds (75-25%) and some TIPS. I will be able to live comfortably on a withdraw rate of 4-4.5%. My financial "advisor" at Fidelity is now hard selling me (INTEREST RATES ARE ABOUT TO FALL!) an immediate annuity that would come out of my bond allocation and cover nearly all of my fixed and variable monthly living expenses. It sounds good, but I'm torn between keeping the money in case of an emergency and being able to leave it to my heirs. Does anyone have any experiences with these and what does the group think about these?
question:
1
Why do you have/need a Financial Advisor at Fidelity?
2
Do you think interest rates are "about to fall"?
3
Do you think that an "annuity" as an insurance product is a viable and/or "only" financial solution or rational response to "falling interest rates" that will benefit you?
4
Follow "your plan".
Keep your money in case of emergency.
Leave it to your hares. Not to the insurance company. Not to the annuity sales commision.
5
Respond vs react to sales persons and sales tactics as if a passing fly buzzes and lands on your lawn chair while you are outside enjoying the day at peace.
6
Is this what you are being sold?
Immediate Annuities.com rates, etc.
https://www.immediateannuities.com/annu ... rs/?sce=hc
7
Why are you collecting SS at 65 instead of 70?
j
Statistics: Posted by Sandtrap — Tue Sep 10, 2024 10:50 pm — Replies 24 — Views 1503