I buy an annuity?
I'm 62 years old, retired and receive a pension sufficient to pay basic bills and some extras. I have a 401k which is invested in a more moderate allocation some populations. I have been told to move a $ 100K of my 401k into an annuity so that I will have some "Guaranteed" income in the future. Not sure if this is a good move. Opinions?
You mean a single premium fixed annuity or variable? Either way, I worked in the numbers of the monthly annuity vs. a CD ladder and found that the scale of CD not only had a better rate of return but you still have the director of 100k. http://www.bankrate.com/ run the numbers on your CD ladder calculator and then compare the rate of return of the annuity. Good luck