Annuities
Good morning, I’m 64 and a few years away from retiring. My wife is 61 and not working outside the home. Approx portfolio amount is $850k. My financial advisor is recommends placing approx $50k in a 3 yr annuity at 4.5% interest. What are your thoughts on this? Thank you very much!
Terry Says
If it’s a MYGA (multi-year guaranteed annuity) make sure it’s from a top rated company. The idea of doing this is tax deferral on the interest (unless you with draw the interest), and you get a higher rate than Treasury notes because you are not guaranteed by the Federal government.
To check MYGA rates go to www.StantheAnnuityMan.com
