“My biggest mistake IMHO was to agree to an annuity. “
I just moved money into an annuity for a monthly disbursement. I didn’t know what to do with the money so I spoke with an advisor and he said put it into an annuity until I am 67. (I’m 63 and not yet retired)
What are some other options?
I’m a lousy financial advisor, but here’s some:
1. Become debt free, that really allows flexibility, I retired at 56 because of that.
2. If you’re already comfortable with what you’re going to have for retirement (pensions, etc.), spend it, enjoy life, you’re not guaranteed tomorrow. I was healthy at 63, now at 69 I’ve had cancer, surgery, and seeing all kinds of specialists. But I don’t need sympathy, God has been good to me, my point is enjoy life while you can.
3. If you’re frugal, consider buying the best (or near) instead of the most economical. I made that change about a year ago.