Annuity rates won’t last
If I were turning 65 and retiring today, I could lock in a 5.5% annual return on my savings, plus a reasonable inflation adjustment each year, to last me for the rest of my natural life.
But how long that opportunity is going to last is another matter.If I had to bet on it, I’d say: Not long.That rate of return is what you can still get right now from the annuities market for a single-premium immediate annuity, or SPIA. An SPIA is an insurance product that converts a pile of savings into a stream of income […]
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