To annuitize or not?
Submitted by Anonymous on
Does one have to annuitize at some point and time?
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Annuity
An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.
Annuity Cash-Out
Submitted by tom on
A pretty good Consumer Reports article on annuity cash-outs and companies that operate in this area such as J.G. Wentworth can be viewed by clicking here.
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Why You Should Care About Predictive Medicine and Anti-Aging Science
Much of my professional background has been focused around the healthcare industry and I find the fields of...
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What happens if the The Dollar is abandoned and new currency issued?
An interesting question and a rather extreme scenario I suppose.
As you indicate, the currency can suffer quite a bit of damage through either inflation or deflation.
I am not sure, however, how the contractual obligations would be affected in an insurance or annuity contract if the currency were replaced.
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Chairman Bernanke's Annuities
Submitted by tom on
It is reported that Federal Reserve Chairman Ben Bernanke owns two annuities.
One is a variable annuity and the other is a fixed annuity. Each annuity is worth between $250,000 and $500,000.
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