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So I just went out to the very simple to use annuity calculator on the Fidelity Investment website. I did a calculation for my wife ($500K investment) and myself ($250K investment) both starting income on 6/1/2032 (8 yrs), both with joint survivorship. The total between the two is $6738 per...

Yes it is close to $3M as of today. 99% of it is qualified in 401Ks and Rollover IRAs. For planning purposes we are taking SS at age 70. Problem is, $120K before tax is not enough to cover expenses, including medical. So, we are trying to retire too early and/or our expenses are just too high.

Yep, that is what I have done so far. Nothing. Just kept things a bit balanced in our retirement accounts, mostly 401K and Roth.

Thank you. Well said. Now how in the heck do I find a good, honest financial advisor? Almost everyone here believes this FA is not being straight with me. I have been to three so far and they all want to sell me an annuity like this (and they all fit your profile above!). I never considered...

Sorry, you are wrong with that assessment. Some things have been said that make me believe there is lack of understanding of this particular product (see my last post). And that lack of understanding may be on my part. I am just not there yet. Definitely not trying to simply get affirmation.

Maybe what some are missing here is the difference between the account/contract value number and the income base, which is used as part of the add on income rider to calculate the guaranteed minimum payment. If the $84K projection was based on what the account value could be at age 65, then I...

S&P 500. but remember I am hyper focused on this income rider and the guaranteed minimum payment as a percentage of the income base for my planning purposes. This is the amount I will get if the S&P is flat or even negative in a year. A good S&P year would just be gravy on top of the $84K

The monthly payments are NOT based on the account/contract value as you have stated. It is based on the income base that grows at 7% for the first 10 years, and the guaranteed withdraw % comes from that income base in the year you choose to start payments. The contract value is used for...

pb4uski, I attached a snippet of what I was given and circled the values in the two illustrations. I these the guaranteed values you are talking about? One would think the quotes are pretty close to the values that will be in the contract if created soon. The FA is telling me this is...

I am trying to use immediateannuites.com for the first time. Can you give me a bit on instruction on what you did to come up with the $67K?

OK, first thank you all. I was not convinced about the annuity which is why I came here in the first place. I fully understand the "no free lunch". But it is being suggested here that the word guaranteed with the income rider is not really the case, and I am trying to understand why. Won't...

So, if we assume the $84K annually is correct and not a scam, as some of you say, can we discuss the simple math associated with that and go back to the fact that I need to make >6% each year on the $750K in order to make the non-annuity scenario more advantageous. 6% is pretty high I think to...

Man, you guys are confusing the heck out of me. I have the quotes, and I will not sign anything without having a lawyer or someone look at this. The person who said "No way these returns are guaranteed", are you sure you know what you are talking about? I see it in the contract and it is part...

Oh for sure, the insurer does matter. Did not mean to imply otherwise. The quote of $84K was from two ilustrations both with joint survivorship. One for my wife ($500K who is 61 now) and one for me ($250K age 58). We would start payments in 8 years. The $84K is the combined number from the...

There is a type of annuity called Fixed Index Annuity. The specific FIA I am F&G Safe Income Advantage or NationWide New Heights. It does not really matter who the insurer is or even the specific product because all the FIAs work basically the same way. I have illustrated what the product...

Note: If you don't read the entire post, take a look at the attached spreadsheet that illustrates two scenarios. 1) $750K initial investment (now) in a fixed index annuity with an income rider providing a guaranteed minimum payment of $84369 starting in 7 years. 2) Investment of $750K now...

Found this thread and thought it was most appropriate to ask my questions and make comments here because of the related topic. I too am looking at the Nationwide Peak 10 Fixed Index Annuity and here is why: Here is a quick background and some relevant info: 58 year old male; spouse is 60 (both...