What Happens When Charlotte Invests Half Her IRA into an Income Annuity?
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- Опубліковано 2 жов 2024
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What would happen if Charlotte had to enter a nursing home in her elder years? Nursing home could draw from her regular account but only take payments from annuity?
This is Great case study on the importance of delaying social security she would have her inflation adjusted income needs taken care ,while remaining in a lower tax bracket throughout her retirement all while leaving a larger legacy by waiting till age 70 to collect social security she will have to spend 140k from the portfolio to accomplish this not the 253k to purchase the annuity .....this shows why social security is the best annuity money can buy
Humbug. Filing at 70 vs 62 means you will be 78 before you break even vs what you would have received filing at 62 plus youre younger at 62 and can enjoy it more. The goal of the exercise was to show the value of SPIAs for reducing market risk at the cost of less $ for heirs. Now that SS reports include TOTAL SS contributions from person and employer, if you look at total contributions vs payback time, its a no brainer to take it early. BASED ON CONTRIBUTIONS, SPIAs generally dont become profitable until held for 20 years on Single life annuities. In the case of SS, the SS annuity becomes profitable (in my case) after 13 years when filing early. But I agree SS is the best annuity money can buy but the difference is, SS is not contractually guaranteed like an annuity is. SS is not contractually guaranteed! As Devon Carroll.
Fred do you really think the government is going to renig on SS payments?
I’d like to see ANY example of SS benefits being reduced.
I agree that waiting until age 70 is the best bet. That being said many people who were blue collar workers(I was one and know the mindsets of others in this category) are not going to keep working until age 70(they can't) and they are not likely going to spend down their 401k's waiting on the magic number of age 70 to then file for SS. What that segment will do is take SS when they think it will be most beneficial to them in conjunction with their retirement savings and go on with their lives.
@@HeritageWealthPlanning About the security of SS. I never ever thought our Government would deny people the right to attend church or work.
Both foundations of our great country.
The Globalists want some sort of RESET. Global warming / environmental / forced vacinations bla bla.
The Politicians are no longer afraid of citizens. We have Tyranny in 2020.
Look at the fear the average American displays. Wearing a facemask in their car! Good Lord Save US.
@@HK-qj4im Let me guess you believe in UFOs and flat earth too
I saw very little difference in the Confidence Levels between the two scenarios???
Thanks Josh cool 😎 stuff