Many seniors today are facing a perfect storm. Record low rates of return on their bank accounts and CD’s, raising supplemental insurance costs and ever increasing property taxes. Add to that escalating home health care, paltry pensions and insufficient savings there is no doubt that “Housing Wealth” should be considered in a comprehensive retirement plan.
On occasion I meet with parents heroically helping manage the life of an adult child struggling with mental illness. It is heart breaking to understand the physical and financial sacrifice parents give to make the life of a mentally disabled adult child better. The unconditional love for these adult children is truly wonderous.
In 1966 Clint Eastwood boosted his film career by staring in the western, The Good, The Bad and the Ugly. This western film title can be used to describe annuity investments. Annuities can be a “good” investment by helping serve the purchasers’ financial goals, but only if matched with the right person under the right circumstances. If matched with the wrong person under the wrong circumstances the annuity becomes “bad” or even “ugly”.