For your information, an annuity quote for someone your age in New Jersey, for example, would show a 2.35% higher monthly income than is available to you, as a California resident. Regarding the administration of this premium tax-- since it's a point-of-sales levy, the insurance ...
One strategy is to calculate your fixed retirement expenses, such as utility bills, mortgage and car insurance, and buy an annuity that will cover those costs. You can get an idea of how much you’ll need to spend to get a specific monthly payout at immediateannuities.com....
But that math doesn’t produce the value to a given person, in the same way as the price difference between a $200 deductible and a $1,000 deductible car insurance policy doesn’t tell you how important the lower deductible is to you. Someone with other sources of guaranteed re...
The reason: Once you hand over your money, you're locked into the agreed upon monthly payment. If you underestimated your expenses or need money to buy a new car, you're out of luck.Some companies will let you cash out of your annuity during the early years, but you'll pay a ...