I just turned 65 and will collect my first social security check this month. It's not huge due to a variety of factors, but its enough to pay my fixed expenses. In addition, I have accounts at Vanguard and Fidelity invested in a 5 fund portfolio of domestic (75%) and foreign stocks (25%), domestic and foreign bonds (75-25%) and some TIPS. I will be able to live comfortably on a withdraw rate of 4-4.5%. My financial "advisor" at Fidelity is now hard selling me (INTEREST RATES ARE ABOUT TO FALL!) an immediate annuity that would come out of my bond allocation and cover nearly all of my fixed and variable monthly living expenses. It sounds good, but I'm torn between keeping the money in case of an emergency and being able to leave it to my heirs. Does anyone have any experiences with these and what does the group think about these?
Statistics: Posted by Bkirishman — Tue Sep 10, 2024 2:57 pm — Replies 7 — Views 297
