Happy Money Crush Monday my friends! Let talk about retirement! I know what you’re thinking; we have plenty of time. But do you really? I am so very obsessed with this retirement option Millennials can save for while they are young!
I have been so busy that I have neglected my #MCM duties for the last few weeks. But not to worry, as I find new content and interesting ideas to share you all will be the very first to receive it.
I am taking a much-needed vacation and am actually writing this sentence from beautiful St. Barths!
I plan to return home fully recharged and geared up to finish 2017 strong. I have re-sharpened my focus on my financial goals and am looking forward to checking everything off my list.
Oh yeah, I had a point…
The point was to share this interesting article I found on CNN Money about a retirement option I never knew existed.
Immediate Annuity. According to CNN, the concept is simple: You hand over a portion of your savings to an insurer and in return receive a fixed monthly payment no matter how long you live and regardless of how the financial markets perform.
Today, for example, a 65-year-old man investing $100,000 in an immediate annuity would get about $550 a month for life, a 65-year-old woman would receive about $525 and a 65-year-old male-female couple would collect about $470 a month as long as either one is still living.
I love the idea of setting aside an additional allowance for myself to have during retirement. And the fund will pay you a fixed amount for life!
Read the full article here!
Do immediate annuities sound like a legit retirement idea for you? Comment and let me know how you plan on hatching your nest egg!
Until next time, make it a productive week!
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