Monday, April 16, 2007
Income for Life? Sounds Good, but Do Your Homework
What if I outlive my money? The fear of such a thing happening haunts many older Americans. So when a reputable company, New York Life Insurance, teams up with AARP to offer an investment with the absolute promise of lifetime income, it can sound like an answered prayer.
Indeed, the investment, an immediate annuity, may be ideal for some retirees, but financial advisers say it is not for everyone. Prospective buyers need to do some homework — studying both their own finances and the annuities available in comparison with other investments.
After all, an immediate annuity is an investment for the rest of a person’s life or a couple’s lives, and it is not easily liquidated if either personal circumstances or financial markets change.
Income for Life? Sounds Good, but Do Your Homework
Source: NY Times
Indeed, the investment, an immediate annuity, may be ideal for some retirees, but financial advisers say it is not for everyone. Prospective buyers need to do some homework — studying both their own finances and the annuities available in comparison with other investments.
After all, an immediate annuity is an investment for the rest of a person’s life or a couple’s lives, and it is not easily liquidated if either personal circumstances or financial markets change.
Income for Life? Sounds Good, but Do Your Homework
Source: NY Times
Permalink posted by armandn @ 6:41 AM 
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