I’m 66 years old and recently retired from an IT job and started receiving Social Security and now have Medicare Coverage. I have the following investments and income.....
- $1500 monthly from SS after Medicare fees taken out
- $75000 savings account
- 1.2 Million Ameritrade Brokerage Account
- Mortgage is $2000 monthly and additional monthly bills come to about $5000 per month for a total $7000 outgoing each month.
Other than social security and dividends that my brokerage account generates ($20000 yearly) this is all income I get.
My wife has health issues right now and will get SS next year ($1300 monthly).
So, do you think I should consider getting a $500,000 immediate annuity to at least cover my mortgage for the next 15 years?
Just trying to figure out this annuity stuff. Concerned about the AIG bailout years ago. Not too familiar with how safe they are? Thanks for your advice
-Robert
- $1500 monthly from SS after Medicare fees taken out
- $75000 savings account
- 1.2 Million Ameritrade Brokerage Account
- Mortgage is $2000 monthly and additional monthly bills come to about $5000 per month for a total $7000 outgoing each month.
Other than social security and dividends that my brokerage account generates ($20000 yearly) this is all income I get.
My wife has health issues right now and will get SS next year ($1300 monthly).
So, do you think I should consider getting a $500,000 immediate annuity to at least cover my mortgage for the next 15 years?
Just trying to figure out this annuity stuff. Concerned about the AIG bailout years ago. Not too familiar with how safe they are? Thanks for your advice
-Robert
Statistics: Posted by Robert_Texan3123 — Mon Jan 01, 2024 11:47 am — Replies 1 — Views 141