The big R cometh

zygurat789

Thank you jamesd.
Your reasons for indexed annuities are all true, I have given my thoughts on them above.
Do you not think, that at 88, most people have little use for money and it would have been better to have taken more earlier. After all the state pension is indexed and provides some protection against inflation.
Joint life. I'm not quite sure I understand why a drawdown would be preferred here. The point I would consider first is value for money. I have
seen some quotes where the joint life income was
reduced by 4.5% to give a second life income of 50%
5.85% 67%
8.4% 100%.
Guaranteed value. Again I would apply the value for money rule and I fond a male aged 65 suffered a 14.5% reduction for a 10 year guarantee.
Assured value. When I read this it seemed to imply that you got all your money back on death perhaps I misunderstyood and it meant guaranteed.

Looking at the above my (admittedly value) judgement would be:-
No indexation
Joint life for 67%
No guarantee

zygurat789

EdInvestor wrote: »

http://www.moneysavingexpert.com/savings/annuity-guide

Here you are zygurat789, a new Annuities Guide from MSE.Looks like it covers all the basics, just what you want.

If you feel like something a bit more sophisticated later, feel free to come back and raise some more questions.I will desist from taxing your brain any further with new ideas.;):)

Thank you, that's just what I wanted.

Don't get me wrong I know about drawdown but I would have thought that many more people went down the annuity path than the drawdown route. I have come across so many of them who thought that from saving to receiving a pension was all one seamless operation and never knew about guarantees or jt life.
The posts on this board are mainly about the saving half of the operation or the merits of new and riskier schemes. This is because the average age of posters is somewhere below the age at when one would consider taking an annuity. I merely thought that annuities are still important and I and
maybe some others would like to know a bit more.
So I suggest you drop the sacasm and the condescension, read your own signature, and bask in the warm glow of having done something for your elders and betters

TMFTP

Honestly - your posts are astonishing.

"Drop the sarcasm and condescension" - yet YOU post things like "did you read the OP"

You want to "know more about annuities." I gave you a BIG list of things that affect annuities and how - and you refer me to your OP...

You "know about drawdown" - but only "would have thought" that more people went down the annuity path?

Honestly - do yourself a BIG favour and get advice.

And stick your condescension.

jem16

zygurat789 wrote: »

So I suggest you drop the sacasm and the condescension, read your own signature, and bask in the warm glow of having done something for your elders and betters

As Ed is already retired I would assume she is older than you already and therefore better according to your ideas. She also has first hand experience of drawdown.

People have tried to help here but you seem to have closed off your mind to listening. Anything other than an annuity may not be for you but you could at least explore the options before dismissing them out of hand.

Ed's right on one thing - you need to see an IFA who can look into your specific requirements.

zygurat789

TMFTP wrote: »

Honestly - your posts are astonishing.

"Drop the sarcasm and condescension" - yet YOU post things like "did you read the OP"

This wasc a serious and factual comment with no sarcasm. The original post clearly stated annuities, not a comparison with other methods

You want to "know more about annuities." I gave you a BIG list of ththings at affect annuities and how - and you refer me to your OP...

Things that affect annuities doesn't tell me about them

You "know about drawdown" - but only "would have thought" that more people went down the annuity path?

I have no figures to prove my contention, can you produce some to disprove it

Honestly - do yourself a BIG favour and get advice.

And stick your condescension.

That's what I'd call condescending

zygurat789

jem16 wrote: »

As Ed is already retired I would assume she is older than you already and therefore better according to your ideas. She also has first hand experience of drawdown.
I have read what has been said about drawdown, there's a sticky on it.
If only annuities had received the same exposure

People have tried to help here but you seem to have closed off your mind to listening. Anything other than an annuity may not be for you but you could at least explore the options before dismissing them out of hand.
I was only trying to find out more, in detail, about annuities; anything else
was not what I had mentioned in the OP.

Ed's right on one thing - you need to see an IFA who can look into your specific requirements.

My specific requirements were to find out a bit more about annuities

EdInvestor

zygurat789 wrote: »

Don't get me wrong I know afairlybout drawdown but I would have thought that many more people went down the annuity path than the drawdown route.

Indeed you're probably right.And the fact that annuities have been around for much longer explains why most people can easily find info on them on the net or elsewhere and don't need the details that accompany the newer products like drawdown which many posters want to know about.Other new products are similar.It is easy to refer people to other sources for annuity info rather than just repeat it here and clog up the board.Whereas it is quite difficult to find clear info on drawdown and the use of Sipps.

The posts on this board are mainly about the saving half of the operation or the merits of new and riskier schemes. This is because the average age of posters is somewhere below the age at when one would consider taking an annuity.

MSE has a certain readership - it would not be sensible to ignore this.Perhaps older people with a narrower focus should seek a more relevant bulletin board. Googling the net should bring up a wide array of links to this long established retirement product.

I merely thought that annuities are still important and I and
maybe some others would like to know a bit more. I suggest you drop the sacasm and the condescension, read your own signature, and bask in the warm glow of having done something for your elders and betters

Elders and betters LOL:rotfl::rotfl:

dunstonh

Elders and betters LOL:rotfl::rotfl:

Are you scoring that at nil or 50%

jamesd

EdInvestor, I wouldn't want to suggest that you're the older of the two but you could be.

zygurat789, your choices are yours to make and those are reasonable. Taking level annuities is extremely common, I think the most common choice.

zygurat789

EdInvestor wrote: »

Indeed you're probably right.And the fact that annuities have been around for much longer explains why most people can easily find info on them on the net or elsewhere and don't need the details that accompany the newer products like drawdown which many posters want to know about.Other new products are similar.It is easy to refer people to other sources for annuity info rather than just repeat it here and clog up the board.Whereas it is quite difficult to find clear info on drawdown and the use of Sipps.
Then the polite thing to do would have been to refer which, in the end, you did.


MSE has a certain readership - it would not be sensible to ignore this.Perhaps older people with a narrower focus should seek a more relevant bulletin board. Googling the net should bring up a wide array of links to this long established retirement product.
If you are referring to me then you are being condescending again, and remember you started being rude to me. I was trying to broaden my focus and expand my knowledge base by seeking information. I was not seeking advice, I wouldn't want to put you into that position, after all you're not allowed to give advice

Elders and betters LOL:rotfl::rotfl:

This is a well known and traditional phrase, if you were the age that has been claimed for you then you would have recognised it. In no way was I claiming I was older or better than you, but there are those that are