I'm hoping one day I can sell my business, and say for example I net $3M after taxes, why shouldn't I put $2.5M into an annuity which pays me $10K a month for life?
Sure I have less liquidity but I think it makes sense over the long term and prevents me from going broke (I have had gambling issues in the past).
Also there is inflation $120K won't be the same in 50 years but I doubt I'll ever be uncomfortable with that income.
Also with an annuity I can continue working as I'll have free time or even build another business and it will be a lot more comfortable with the free time and steady income.
Submitted November 13, 2018 at 02:01PM by stillbulking https://ift.tt/2FhWI9q
