“Most annuities pay between 6.4 and 14% (source: Barrons). “
Um, no, not in this decade.
From your article: “Of the highest five-year guaranteed rates on fixed annuities, the top six contracts are offered by private-equity firms, with rates as high as 2.7%.”
“So using an exceptionally conservative value, let’s say 6% interest. “
6% is an exceptionally high value, not an exceptionally conservative value.
“So to say it’s a million dollar retirement is just a canard. A useful figure of speech, but it has no bearing in reality upon examination.”
No it’s not entirely a canard, especially with a 40+ year retirement.
One thing I discounted is the future costs of healthcare, and the actual cost of health insurance - that more than offsets that.
I also did not include COLA’s which would further increase the present value of and E6 retirement plan.
No, the good man is a millionaire, there is no way to get around it.
He may lack the tophat and cane, but the numbers don’t lie, even with approximations to add and subtract.
Um, no, not in this decade.
Pal, I don't know where you're getting your investment advise...two examples from Fidelity:
Then a couple from Vanguard:
I just pulled those screenshots today. And, yes, I could easily find others that were better...or others that were worse.
No, the good man is a millionaire, there is no way to get around it.
OK...whatever you say.