I am a fan of income annuities. You simply can NOT get the same level of income from any other product with the money you commit than an income annuity.
100,000 in a 10 year Treasury will pay you $3k a year. $100,000 in an income annuity though, as I show you in the video, will pay you $5800 a year.
Which means you’d need to commit almost $180k to Treasury’s to get the same guaranteed income as an income annuity can provide.
It is true, the Treasury will pay your $180k at maturity. But if income is what we’re searching for, income annuities are a great option.
In this video we’ll go over how a Joint Life with Period Certain income annuity works. This type of payout will pay you for as long as you or your partner are alive or the Period Certain, which ever is longer. So, if you and your parnter die in year one, your beneficiary will receive the payout for the next 19 years.
If you die tomorrow but your partner dies in year 40, your partner will have received payments until year 40.
At his/her death there will be no more payments though.
I always recommend a Joint Life and Period Certain payout if the payouts are nearly the same as a Joint Life. In the example I quote you in the video, the payouts are all of $10 a month difference. Thus go with the Joint Life and Period Certain.