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Hey my 7% comp has to come from somewhere

BrodyInsurance said:   An annuity is a contract. Don't buy it without reading the contract. I guarantee that you don't understand what you are buying. Read the contract and then ask questions.

I am quoting myself from earlier, but let me make a slight change. Because the product that we are discussing is a variable annuity, it is sold by prospectus. Getting an actual contract is sometimes a pain in the butt. All of the necessary information is in the prospectus and since this is a requirement, one can easily get their hands on one.

How do you think that conversation went over with OP's wife?
"Honey, we're millionaires but can't afford to retire the way we want."

$600k house owned free and clear ?!?
Reverse mortgage in the future to fill in retirement gaps and/or to reduce needed/projected retirement monies ?

Just throwing it out there as im not really qualified to make any recommendations.

daw4888 said:   Does your wife have her own career? If so then you both should not be taking your full SS at 66. One of you can take yours, and the other claim the spousal benefits on that persons plan. Then wait until 70 and switch to their own full SS at the increased payout.
Assumes SS doesnt change the rule that allows claiming on spouses income and or paying back monies if collecting early doesnt turn out beneficial. <== not sure that makes sense ...



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