Cash all-in for an annuity?
Posted: Sun Dec 17, 2023 7:51 am
Not sure where to post this so please move if necessary. It's something I think about a lot and feel it's a big topic, though I don't think I've seen any threads on it. In fact, I think it would make a very useful Japan-specific RJ e-book.
I came upon this life-changing site about 5 years ago after 'investing' in various schemes that a well-known investment bank wooed us with on their periodic visits, with their glossy pamphlets and percentage signs, who then took their 3% while our investments went south. So I read Millionaire Teacher and all the information here and started putting our money in iDeCo and NISA. Along with our Apple shares that have multiplied, this has done us well. Wish I'd known all this decades ago.
When I retire, within 10 years, every year I'm going to be accessing the websites to sell my iDeCo Japan stocks, foreign stocks, foreign bonds and NISA bonds and All Country stocks, as well as the Apple stock. In general, tax withholding and NISA accounts.
Already, accessing the sites is a pain. More so when I’m an old git, let alone deciding proportions to sell.
When I look at my brother's situation in the UK - when he retires he's going to get a lump sum in his bank account every month and needn't give it another thought - I can’t help feeling jealous.
So my question is, what if I sell all my investments and pay someone to give me an annuity? Is that financial suicide? (I know it’s an option with iDeCo, but I’m talking lumping all investments together.) What are the options? Is there anyone with that experience here? Nitty gritty, if I had investments that would give me ¥1m year at 4% draw down (I wish - just a round figure) what kind of annuity could I receive until death (percentage-wise, I guess)?
When one spouse dies, their NISA/iDeCo/Stocks would be available to the surviving spouse. How would that work with annuities?
Are there people here in their 80s still accessing their investment sites with clarity?
Even now I find it laborious. I’d like to think when I retire all that’s behind me and I can enjoy life unencumbered with anything but money paid into my bank account. Providing it’s an amount I can live with comfortably. Is that there the rub, I wonder?
I came upon this life-changing site about 5 years ago after 'investing' in various schemes that a well-known investment bank wooed us with on their periodic visits, with their glossy pamphlets and percentage signs, who then took their 3% while our investments went south. So I read Millionaire Teacher and all the information here and started putting our money in iDeCo and NISA. Along with our Apple shares that have multiplied, this has done us well. Wish I'd known all this decades ago.
When I retire, within 10 years, every year I'm going to be accessing the websites to sell my iDeCo Japan stocks, foreign stocks, foreign bonds and NISA bonds and All Country stocks, as well as the Apple stock. In general, tax withholding and NISA accounts.
Already, accessing the sites is a pain. More so when I’m an old git, let alone deciding proportions to sell.
When I look at my brother's situation in the UK - when he retires he's going to get a lump sum in his bank account every month and needn't give it another thought - I can’t help feeling jealous.
So my question is, what if I sell all my investments and pay someone to give me an annuity? Is that financial suicide? (I know it’s an option with iDeCo, but I’m talking lumping all investments together.) What are the options? Is there anyone with that experience here? Nitty gritty, if I had investments that would give me ¥1m year at 4% draw down (I wish - just a round figure) what kind of annuity could I receive until death (percentage-wise, I guess)?
When one spouse dies, their NISA/iDeCo/Stocks would be available to the surviving spouse. How would that work with annuities?
Are there people here in their 80s still accessing their investment sites with clarity?
Even now I find it laborious. I’d like to think when I retire all that’s behind me and I can enjoy life unencumbered with anything but money paid into my bank account. Providing it’s an amount I can live with comfortably. Is that there the rub, I wonder?