Sunday, October 4, 2009



Don't ever buy an annuity. I didn't buy one, but ended up getting one years ago when Hartford Insurance bailed out a real estate trust. Now I have to decide how to take the payout. How to get the most out of this meager investment before I die?

The choices are endless. Do I take larger monthly payments until I die, or be guaranteed a certain amount for 10 years with additional payments for life, or a guaranteed fixed amount for a specific time period? The actuarial combinations boggle the mind as you try to outsmart your own demise.

P.S. Since my father and grandfather lived to be 81, I am betting on living till 83 which makes taking the maximum monthly amount, ceasing upon death, worth the extra $10-20/month.

1 comment:

Anonymous said...

Poor Richie/Rich....why not donated it to the Peace Corps.for the poor people of Samoa that you spent your vacation with.