1) High capital guarantee
2) Flexible payout
3) High Projected Yield (above 4%)
4) Pays out for life (If you want shorter, get a retirement plan - the difference is that a retirement plan pays down your capital to 0, while a lifetime annuity protects your capital)
5) Benchmark it against CPF Life. (Many people think CPF Life is the best, but it may not be. It's definitely bloody amazing, but I can confidently say not the best - start another private annuity early enough and you can contribute lesser premiums to get a higher projected payout with 0 capital loss, unlike CPF Life)
Start one as early as possible. It's one of the best ways to receive a guaranteed passive stream of income for life. Even dividend income and rental income are active streams as you have to manage your assets, unlike the annuity.
1) High capital guarantee
2) Flexible payout
3) High Projected Yield (above 4%)
4) Pays out for life (If you want shorter, get a retirement plan - the difference is that a retirement plan pays down your capital to 0, while a lifetime annuity protects your capital)
5) Benchmark it against CPF Life. (Many people think CPF Life is the best, but it may not be. It's definitely bloody amazing, but I can confidently say not the best - start another private annuity early enough and you can contribute lesser premiums to get a higher projected payout with 0 capital loss, unlike CPF Life)
Start one as early as possible. It's one of the best ways to receive a guaranteed passive stream of income for life. Even dividend income and rental income are active streams as you have to manage your assets, unlike the annuity.