Annuities
I am retired and have a 457 account. Would it be a good idea to open an annuity? I am 65
Terry Says
NO. That would tie you to a fixed check a month for life — and that check would be decimated by inflation. At only 3% inflation, the spending power of a fixed monthly check would be cut in half in 25 years!
I’m assuming you’re talking about an immediate annuity — a monthly check forlife. If you’re talking about just moving into an investment annuity tied to the stock market, then you’re in the clutches of a salesperson who cannot be trusted.
Here’s how to find a fee-only FIDUCIARY advisor who can be trusted – someone who is not trying to sell you something! Even a couple of meetings will set you on the right path.
Click on this link and watch the video: https://www.terrysavage.com/pam-krueger-wealthramp/
