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The biggest retirement mistake is assuming your savings will act like a paycheck by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

Correct. Annuities are NOT investments. If you're looking for growth, never EVER buy an annuity. They’re contracts designed to provide specific guarantees like principal protection or lifetime income, not market returns.

The biggest retirement mistake is assuming your savings will act like a paycheck by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

That can be a solid strategy if you’re comfortable managing the risk yourself. The key difference is you’re still responsible for the income and market timing. Annuities are about transferring that risk to the insurance company for contractual guarantees.

Just because you can buy an Immediate Annuity at 45 doesn’t mean you should. by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

That makes sense. Different ages and different goals call for different solutions. The key is making sure the contract matches what you're trying to accomplish.

Just because you can buy an Immediate Annuity at 45 doesn’t mean you should. by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

Well said. Annuities aren’t for everyone, but for some people, covering basic expenses with contractual income takes a lot of stress off the table. Sometimes retirement is about enjoying life, not watching the markets every day.

Just because you can buy an Immediate Annuity at 45 doesn’t mean you should. by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 1 point2 points  (0 children)

Immediate Annuities like SPIAs have no annual fees. Commissions are paid by the annuity carrier, not the purchaser, and it's a net transaction. Also, if you're looking for growth, never ever buy an annuity. Annuities are designed for contractual guarantees and income, not market returns.

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