Tip & How-To about Luggage & Travel

Retirement annuity

This tip is primarily for anyone who may be planning on retirement in the near future, but those who have some time to go might want to store this in the back of their memory.
Let me start by saying I have no involvement in the sales or promotion of any financial program. I'm offering this based on my personal experience.
As my time approached for retirement I began searching for the best ways to use the monies in my 401k to supplement my pension and SS. My first and simplest option was to have the manager of the 401 simply purchase annuity with a fixed lifetime monthly distribution. With a little research I found this option would have grossed me approx. $500.00 monthly. And that was fixed.
Further research uncovered varible annuities with all kinds of bells and whistles. So I tread softly, talking to anyone and everyone who may provide some insight. I found, if you look closely and read all the very fine print that there are some pretty good options. I found a variable which pays near twice my first option. On top of that the distribution is recalculated annually and, based on economic factors can be adjusted up, never down. Granted I pay a few extra pennies per thousand invested for this luxury, but it's worth it. This annuity will keep on paying untill I die, then continue paying my wife up to her 90th B'day.
Anyway, my tip here is simple. Don't jump at the first thing that looks good. Be a skeptic and do your homework.

Posted by on

Luggage & Travel Logo

Related Topics:

Related Questions:

2 Answers

what is the importance of Getting Independent Financial Advice?


Independent financial advisors will assist you in the difficult situation when you can't take decisions about your financial future.Commonly they can help with things like planning for your retirement, investing money, saving money, buying property & more.They offer independent financial advice on a wide range of financial products which would suit our needs.Check out http://manning-financial.ie/ for best independent financial advice on income protection, savings & investment ,business protection and more

Jan 08, 2016 | The Computers & Internet

3 Answers

how much pension will i get on retirement


That depends, among other things, on how much you've put into your pension plan. Please contact your pension plan's administrator. FixYa has no access to your confidential financial information.

Mar 18, 2013 | Cars & Trucks

1 Answer

Acer aspire 5315 usb an not be recognised ???


I checked to see what a modern port tester would cost; I don't have one since I retired some years ago. They are still too costly for occasional use; the least expensive I found was still $50 US. If you have an independent (privately owned) computer store near you, I'm pretty sure they will have one and while I was in business, that is the kind of thing I would do as a courtesy; it would take 5 minutes and perhaps bond a customer to you for the future.   

Sep 02, 2008 | Acer Aspire 5315 Notebook

Not finding what you are looking for?

950 people viewed this tip

Ask a Question

Usually answered in minutes!

Top Luggage & Travel Experts

Dave braun
Dave braun

Level 2 Expert

105 Answers

Tom Chichester

Level 3 Expert

35737 Answers

Bobby Lewis
Bobby Lewis

Level 2 Expert

163 Answers

Are you a Luggage and Travel Expert? Answer questions, earn points and help others

Answer questions

Loading...