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Social Security: The Cheapest Annuity In Town

Saturday, June 2, 2012 - 7:56 AM
According to this Smart Money article, a recent study shows that the best way for people to turn their 401(k) balances into a stream of income is to “buy” an annuity from Social Security.  Read more
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pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
Rep Points: 6,264
1. Saturday, June 2, 2012 - 9:36 AM
Pearl:  Is this a joke?  You post an article actually encouraging us to "buy" something from the Federal government?  The same government which rips people off by taking their money for Social Security from paychecks for upteen years and now tells us they are running out of money because it seems they used it for "other" needs.  They are making it clear that people who are having it deducted now from their checks may never even see it when they need it and now we are encouraged to "buy" something else from them??  I think  there is an island in Fiji we can buy and stand a better chance of actually owning something when we need it.  I don't trust the government!  I love my country but it seems we have fools running the country and if we don't find people with at least an IQ of 20 to take over, our kids are going to suffer a heck of a lot more than even we are!  Annuities from the government!  When Hell freezes over!
4
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
2. Saturday, June 2, 2012 - 10:31 AM
Paoli2, the article is not encouraging anyone to buy anything.  The third paragraph in the article clearly has "buy" in quotes.  It is simply pointing out that by using current savings to delay claiming benefits in order to get a higher monthly benefit is comparable to buying an annuity.   Delaying claiming benefits may not be a good or even possible strategy for everyone, but it may make sense for some. 
6
pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
Rep Points: 6,264
3. Saturday, June 2, 2012 - 11:23 AM
 Oh!  Thanks for the clarification Pearl.  I was just reading yesterday about ow social security is going broke again and I guess my radar was off.  I am one that believes in not delaying benefits when it comes to ss.  The way our gov is going, I think we need to get what we can, while we can, imo.
4
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
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