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"Pensions are absurd financial instruments." I don't agree. Retirees do need money as long as they live, which is what pensions (including Social Security) pro
by poster123 9y ago
"Pensions are absurd financial instruments."
I don't agree. Retirees do need money as long as they live, which is what pensions (including Social Security) provide. Pensions needed to be properly funded, as the income annuities offered by insurance companies are.
- acchow 9y ago> as the income annuities offered by insurance companies are To which kind of insurance are you referring?
- poster123 9y agoLife insurance companies commonly sell various kinds of annuities as well, since they are experienced with pricing life expectancy. Google "immediate annuity" or "income annuity" to get quotes.
- colinsidoti 9y agoDeferred income annuities. They're insurance against your risk of longevity. Here's an example from New York Life: https://www.nylinvestments.com/annuities/products/New-York-Life-Guaranteed-Future-Income-Annuity-II https://www.nylinvestments.com/annuities/products/New-York-L...