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tony

Best Way To Escape A Dreadful Annuity

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Here is a lengthy article on escaping annuities with examples. Please feel free to comment. Fairly comprehensive info.

https://www.forbes.com/sites/davidrae/2019/07/25/what-is-the-best-way-to-escape-a-dreadful-annuity/#6159d9c932e2

 

As you read this keep in mind your teacher pension is in itself an annuity  as is social security so it might not be wise to buy annuities and instead  better to invest in  low cost index funds outside an annuity.

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Thanks for the link.  Not only is your teacher pension an annuity, but for all practical purposes so is Social Security.  And teachers in all but about 15 states also pay into social security.

There is really no reason to invest in an annuity during the accumulation phase of your life, and most certainly not if you have a pension and/or Social Security.

 

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14 minutes ago, MNGopher said:

Not only is your teacher pension an annuity, but for all practical purposes so is Social Security.

Yes  MNGopher thanks for adding that about SS. I believe the right annuity for the right person in certain circumstances might be an option. But for teachers it's just most logical to invest in low cost index funds outside an annuity.  That doesn't stop the industry from selling them inappropriately to teachers. I am irritated that superintendents  and school boards don't understand the ridiculousness of allowing these peddlers of steaming piles of BS to continue taking advantage of their employees.

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