Financial advice about annuities, please?

I probably have 25 to 30 more years to live. I have been advised to put $100,000 into an annuity which would pay $708 per month for life and leave nothing when I die. Is this a good idea?Financial advice about annuities, please?
It depends on what other financial resources you have and how careful with money you are. If the 100K is 25% of your net worth and you'd like the reliability of getting $708 a month (lest you spend your savings too fast), then buying the annuity might make sense. This might be especially appealing if you're not comfortable trying to invest on your own.





If the 100K is more than half your savings, an annuity is probably not a good idea. You may encounter significant medical expenses later in life that aren't insured (like assisted living), and having a large pool of cash could be much more meaningful than having an annuity. Once you buy the annuity, you can't retrieve the 100K for medical or other expenses.





Another problem is this annuity apparently wouldn't adjust for inflation. If we assume inflation runs at its long term historical rate of 3% per year, your annuity payments will lose close to 60% of their purchasing power after 30 years. Could you live with that? And could you live with the credit risk of the insurance company (i.e., the possibility that it might go into bankruptcy and be unable to pay the annuity)?





There's no easy answer to this question. More information about annuities is available on the webpage listed below. Good luck.Financial advice about annuities, please?
I personally have looked into annuities and here is what I have learned. Unfortunately, you really don't know how long you are going to live. You could get hit by a bus tomorrow. (Meaning no disrespect) But you don't know. If you put the money into an interest bearing account you can probably earn 6% and that is historically low. That is about $500. per month. In twenty years what will your interest rate be? The cost of living will eat up that $700. It might be better to keep yourself flexible. You did not mention it, but most annuities only pay for life. If you die in a few years, all that money is gone for no purpose.





The other point is, of course, you still have the $100,000 available.





I am 65 years old retired with some money invested and I personally would not go with a life annuity.
Hi, i recommand you a good and basic tutorial for investing. it covers all Issues related to your Investing and everything around it.





http://www.tutorialforyou.net/investing/





wish it will help you.