Single Premium Immediate Annuity (SPIA)

**ABNAK** · 03-24-23, 14:22

Originally Posted by Averageman

It sounds like to me, you would be good to go as long as they remain solvent.
What can you do if they don't? What can you expect if they go tit's up?

From the OP: "The State Guarantee Association in Tennessee insures you for up to $250K. It's kind of like an FDIC for annuities. That $250K amount is close to what I'd be investing anyway, so even if the insurance company went tits-up I'd be essentially covered."

As long as that particular insurance company is "approved" in your state then it is covered, in TN it's up to $250K (which would be just about all of it). Each state has a list of companies and amounts, so it varies.

**Averageman** · 03-24-23, 15:16

Originally Posted by ABNAK

From the OP: "The State Guarantee Association in Tennessee insures you for up to $250K. It's kind of like an FDIC for annuities. That $250K amount is close to what I'd be investing anyway, so even if the insurance company went tits-up I'd be essentially covered."

As long as that particular insurance company is "approved" in your state then it is covered, in TN it's up to $250K (which would be just about all of it). Each state has a list of companies and amounts, so it varies.

Look like you would be good then.

**HKGuns** · 03-24-23, 16:03

Dude, with ALL due respect, PLEASE talk to a financial advisor. Trust me, it’s worth whatever it costs.

You’re asking for trouble seeking advice like this on a gun forum.

There is a larger picture of YOUR overall situation that needs to be considered.

The real answer is it may be good, it may not and I don’t think you should divulge the type of personal information on this forum necessary to make the right call.

There are solid dudes on this forum who know a lot about guns. Some may also know finance, like myself and I too have a financial advisor who I trust. He knows everything about my financial situation and makes good choices for MY situation.

Annuities can be an important part of a portfolio, I own several, depending on your specific situation, age, risk tolerance, tax bracket etc.........Lots of variables, including your wife.

**utahjeepr** · 03-24-23, 16:23

Originally Posted by HKGuns

Dude, with ALL due respect, please talk to a financial advisor. Trust me, it’s worth whatever it costs.

You’re asking for trouble seeking advice like this on a gun forum. ESPECIALLY from the lunatics at TOS.

There is a larger picture of YOUR overall situation that needs to be considered.

The real answer is it may be good, it may not and I don’t think you should divulge the type of personal information on this forum necessary to make the right call.

True that. I'm happy to throw in my .02, but I pay a guy to handle my money. I try to be educated but I ain't a pro.

**ABNAK** · 03-24-23, 17:51

HKGuns and utahjeepr:

Appreciate the advice and will indeed talk to someone who does this for a living. M4C won't make my financial decisions of course, just thought asking opinions would not be a bad thing.

Like I said earlier, my retirement will be adding X+Y+Z, then an annuity for my monthly income. No kids, so don't give a shit about leaving anything for anyone. House and all vehicles paid off already, although obviously down the road a new vehicle payment will be necessary. Other than recurring monthly bills like electricity, internet, phone, water, insurance, groceries, spending, etc. we are debt-free (and it took us a long time to get that way finally).

**HKGuns** · 03-24-23, 18:51

Originally Posted by ABNAK

HKGuns and utahjeepr:

Appreciate the advice and will indeed talk to someone who does this for a living. M4C won't make my financial decisions of course, just thought asking opinions would not be a bad thing.

Like I said earlier, my retirement will be adding X+Y+Z, then an annuity for my monthly income. No kids, so don't give a shit about leaving anything for anyone. House and all vehicles paid off already, although obviously down the road a new vehicle payment will be necessary. Other than recurring monthly bills like electricity, internet, phone, water, insurance, groceries, spending, etc. we are debt-free (and it took us a long time to get that way finally).

Hope you make Trillions.