Clark my longevity insurance is my Annuity. I know you think this is a swear word. But get this in 2024 our original 10 year contract date amount will be double from the amount we put in. Fortunately we haven’t been able to use this money. But in 2024 my fiduciary advisor says I should start taking my RMD from it instead of my Fidelity Ira. You really shouldn’t put everyone in the situation of never buying an annuity for everyone. When you’re in your mid 70’s and older, it’s a good plan. John
My longevity insurance plan is to delay Social Security until 70. The break even is around living to 82. I can afford to delay and if I live longer than expected it will continue to pay including increases for inflation. This of course assumes that Social Security survives for my generation.
How much do you need to typically invest in one of these plans, and how much could one expect to receive after say, age 85. It would have been nice to have some real world numbers....instead of just saying the payouts would huge, etc.
Terry, for sure that was crazy LOL Bottom Line he is talking about SPIA or DIA annuities. But he makes it sound like some other product. Only problem; guaranteed lifetime income is not the same as enough income. It is a roll of the dice.
It's hard to plan to live to be 100 and also plan to drop tomorrow. Not so much hard to do ,but hard to deal with morbidity. 52% of people have life insurance but only 30% of people 18-44 yro have life insurance.
🕊️ Good Morning! ☕ Clark Howard podcast 💸 "$ave more 💰$pend Less 💳" 🕊️ Psalms 91:16 KJV 📖🌹 With long life will I satisfy him, and shew him my salvation. 🕊️ Enjoy your day!🤗
Never thought Clark would recommend an extended warranty
😂😂😂😂😂
Clark my longevity insurance is my Annuity. I know you think this is a swear word. But get this in 2024 our original 10 year contract date amount will be double from the amount we put in. Fortunately we haven’t been able to use this money. But in 2024 my fiduciary advisor says I should start taking my RMD from it instead of my Fidelity Ira. You really shouldn’t put everyone in the situation of never buying an annuity for everyone. When you’re in your mid 70’s and older, it’s a good plan. John
My longevity insurance plan is to delay Social Security until 70. The break even is around living to 82. I can afford to delay and if I live longer than expected it will continue to pay including increases for inflation. This of course assumes that Social Security survives for my generation.
How much do you need to typically invest in one of these plans, and how much could one expect to receive after say, age 85. It would have been nice to have some real world numbers....instead of just saying the payouts would huge, etc.
Do you mean a SPIA, DIA, or QLTAC? I think “Stan The Annuity”Would be proud!
Clark: What's the practical difference between Long. Ins. and an annuity? Thanks.
Terry, for sure that was crazy LOL Bottom Line he is talking about SPIA or DIA annuities. But he makes it sound like some other product. Only problem; guaranteed lifetime income is not the same as enough income. It is a roll of the dice.
It's hard to plan to live to be 100 and also plan to drop tomorrow. Not so much hard to do ,but hard to deal with morbidity. 52% of people have life insurance but only 30% of people 18-44 yro have life insurance.
Sure hope I don’t live long enough to need one of these! I have zero interest in getting the 80+.
Seems like a legit solution for some folks though.
🕊️ Good Morning! ☕
Clark Howard podcast 💸
"$ave more 💰$pend Less 💳"
🕊️ Psalms 91:16 KJV 📖🌹
With long life will I satisfy him,
and shew him my salvation.
🕊️ Enjoy your day!🤗