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Mutt · 08-02-2011, 06:40 AM

maybe i'm using the wrong term - when you're a self employed person you don't have a pension. so the goal for somebody at 40 or if you push it off to 45 or 50 is to guarantee that at retirement age you can count on a certain amount of money per year just like somebody who has a pension from some big company they worked for.

stocks are risky, real estate is risky - yes you can pull stats that show over the long term stocks and real estate outperform other types of investments but you are talking about somebody who doesn't want to worry, they want to lock in some amount per year when they hit 65. people buy life insurance for the same reason, easy to say take the money you were going to spend on life insurance and put it in stocks or real estate - and you'll leave your family more. and if you die early, they're fucked. life insurance removes any risk, at a price obviously.

if that's not an annuity then what is it?

08-02-2011, 06:40 AM
Mutt Too lazy to set a custom title Industry Role: Join Date: Sep 2002 Posts: 34,431	maybe i'm using the wrong term - when you're a self employed person you don't have a pension. so the goal for somebody at 40 or if you push it off to 45 or 50 is to guarantee that at retirement age you can count on a certain amount of money per year just like somebody who has a pension from some big company they worked for. stocks are risky, real estate is risky - yes you can pull stats that show over the long term stocks and real estate outperform other types of investments but you are talking about somebody who doesn't want to worry, they want to lock in some amount per year when they hit 65. people buy life insurance for the same reason, easy to say take the money you were going to spend on life insurance and put it in stocks or real estate - and you'll leave your family more. and if you die early, they're fucked. life insurance removes any risk, at a price obviously. if that's not an annuity then what is it? __________________ I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!