Should I invest $200,000 in an annuity?

The Treasury Secretary explains MyRA: A ‘starter’ retirement account

My wife and I are retired and drawing Social Security. We also have $ 200,000 in a retirement account that’s invested in a CD. We’re thinking of transferring that money to an immediate annuity. Do you think that’s a good idea? –Anthony, Arizona

The answer depends on what you’re hoping to achieve. If you’re thinking of making this move just because you’re dissatisfied with the low rate of return you’re earning on your CD, then I’d say you ought to re-consider. An immediate annuity isn’t the kind of investment you move into solely in hopes of earning a higher return.

Let’s block ads! (Why?)

Personal finance news – CNNMoney.com

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *