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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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<blockquote data-quote="Catatonic" data-source="post: 1864163" data-attributes="member: 7966"><p>OK ... you still don't get it</p><p>Let me lay this out in a scenario for you:</p><p></p><p>R BrownOld had $500k in his 401 k in 2006 and bought a lifetime annuity that paid out $6000 a month based on 6 .25 ROI expected by the Insurance company that issues the Annuity.</p><p></p><p>R BrownNew had $500k in his 401k but lost 40% in 2008-9 but by 2015 had built back to $500k in 401k.</p><p></p><p>R BrownNew decides it is time to hang em up but when he looks into annuities he discovers a hard fact.</p><p>Interest rates have declined from 6.25% in 2006 to 2% in 2013.</p><p>Consequently, his $500K only buys $3000 for a lifetime annuity.</p><p></p><p>There are downside risks in every direction when one converts to a self-managed retirement plan.</p></blockquote><p></p>
[QUOTE="Catatonic, post: 1864163, member: 7966"] OK ... you still don't get it Let me lay this out in a scenario for you: R BrownOld had $500k in his 401 k in 2006 and bought a lifetime annuity that paid out $6000 a month based on 6 .25 ROI expected by the Insurance company that issues the Annuity. R BrownNew had $500k in his 401k but lost 40% in 2008-9 but by 2015 had built back to $500k in 401k. R BrownNew decides it is time to hang em up but when he looks into annuities he discovers a hard fact. Interest rates have declined from 6.25% in 2006 to 2% in 2013. Consequently, his $500K only buys $3000 for a lifetime annuity. There are downside risks in every direction when one converts to a self-managed retirement plan. [/QUOTE]
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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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