I am 50 and plan to retire at 70. I have a large IRA and I’m contributing to both the 457(b) and 401(k) plans of the city. I am interested in getting a guaranteed lifetime income starting at age 70.5 when required minimum distributions must begin. I would appreciate your thoughts. S. R.
A.: During the accumulation phase, you must never invest in an annuity contract. Why? Fees + Fees + Fees which can add up to more than $4 for each $100 of annuity contract value. Such fees, peculiar to the annuity contract, hamstring the growth of your retirement investment.
This item is available in full to subscribers.
We have recently launched a new and improved website. To continue reading, you will need to either log into your subscriber account, or purchase a new subscription.
If you have an active digital subscription, then you already have an account here. Just reset your password, if you've not yet logged in to your account on this new site.
If you are a current print-only subscriber, and want access to our website,click here to view your options for changing you subscription level.
Otherwise, click here to view your options for subscribing.
Please log in to continue |
