February 17, 2024
The $3 Million Temptation: Should You Ditch Your Rentals for an Annuity?
A 58-year-old man with significant assets—$1.4 million in real estate, $800,000 in retirement accounts, and an impending inheritance of two additional houses—is contemplating liquidating his assets into an annuity to secure a substantial monthly income. While annuities can provide guaranteed income and protect against outliving one’s money, the author cautions against it in this case due to the product’s complexity, fees, illiquidity, and potential inflation
