Hubby and I are 69 and 70 respectively. We are both retired but he is starting a part time job next month. We need more income and have two choices before us: invest in income funds with greater return but more risk or annuities that have a lower return but are guaranteed.
Given the stock market these days, are income funds so risky that we are putting our money at an unconscionable risk or is it worth the better return (we are looking at 6% versus 5% for the annuities)?
We are planning to sell our house and downsize to a condo within a year's time, to reduce our costs.
I'd love to hear from folks having the same dilemma...
1. We have both and I would say the annuities right now
You may get that 1% more but the stocks are a bit risky right now. We took some of our funds out to invest in some land, mostly because we wanted this particular piece of land and because land is always a good resell if we need the money later on. hopefully others will weigh in with a different view point.
2. Good luck on the land thing. We've been trying to sell acreage in a prime
resort area for a year now with no luck.
My accountant likes annuities, too. And I have 3 already which are great. I took a huge loss when GM collapsed, even tho I had a good run with it for a while. I guess you enjoy the good times but have to take the bad as well...
5. You will not get very reliable or knowledgeable financial advice on a
a political discussion site. The only site I would ask a financial question at is at bogleheads.org. There they will ask a lot of pertinent questions before giving you a reasoned answer. Which you're not getting here. IMHO.
8. I have both. My securities did better than 9% last year and that
was the first year that my CREF account did so poorly. My annuity does about 6.25. Even though I retired in 2006 at 55 I have more directed toward my security account.
Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators
Important Notices: By participating on this discussion
board, visitors agree to abide by the rules outlined on our Rules
page. Messages posted on the Democratic Underground Discussion Forums are the
opinions of the individuals who post them, and do not necessarily represent
the opinions of Democratic Underground, LLC.
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
