Lump sum vs annuity for retirement
My wife and I will be 70 in 2026, retirement lump sum is calculated at 338,000, annuity is 2200/month at 100% joint survivor (no beneficiaries). Should I take annuity or roll lump sum into IRA ?
Terry Says
Whew, this is a tough one to answer out ofcontext of your retirement situation.
That’s why a FIDUCIARY fee-only planner can give you specific advice. Find one you can trust here:
https://www.terrysavage.com/pam-krueger-wealthramp/
Here’s something you have to consider — and a planner would take this into account. That fixed $220/month looks great today. But in 25 years, the buying power of that fixed check will be cut in half if we only have 3% inflation! (Likely)
That’s partly why this is is a complex decision that must be made in context of your entire situation.
