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<blockquote data-quote="vantexan" data-source="post: 1720135" data-attributes="member: 24302"><p>$62,500 isn't "upper middle class." Of course it gives you a guaranteed income. It doesn't however guarantee that it won't lose value, the downfall of fixed annuities. Let's say a courier's pension pays him $20k a year. That money comes from an annuity the company buys. That $20k when he retires won't buy him as much 1 year from now and as time marches on will be considerably less because the company got rid of the COLA feature in 1989.</p></blockquote><p></p>
[QUOTE="vantexan, post: 1720135, member: 24302"] $62,500 isn't "upper middle class." Of course it gives you a guaranteed income. It doesn't however guarantee that it won't lose value, the downfall of fixed annuities. Let's say a courier's pension pays him $20k a year. That money comes from an annuity the company buys. That $20k when he retires won't buy him as much 1 year from now and as time marches on will be considerably less because the company got rid of the COLA feature in 1989. [/QUOTE]
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