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Annuity?
cj500
Posts: 14 Forumite
Hope someone can help, should a man in his late seventies with a substantial investment portfolio, cash in his investments in order to buy an annuity instead? The portfolio has been losing money for sometime. Is it possible for the annuity to continue to his wife and then to the children after his death? Any information appreciated
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Comments
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It is possible to buy annuities that pay a proportion to a spouse after death, but they only pay to children under specific ages i.e. once they are over age 21 (or so) and working they don't get anything.
If the investment portfolio is large then it would be worth taking financial advice.0 -
It may be that the portfolio needs adjustment. Remember that the stockmarket crash may well have had an impact on returns. However, without knowing the make up of your portfolio, we wont know.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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