Evaluating Annuity Income Increases: Are They Worth It?

Annuity income increases can sound enticing, but are they beneficial in the long run? Join Stan as he breaks down the pros and cons of income increases, helping you make a well-informed choice for your retirement.
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[@JA-zh6ew]

Great content! Very informative! Thanks so much!

[@StanTheAnnuityMan]

Thanks for watching!

[@blaw14]

So many shilling the index annuity with bonuses...had one tell me (when I presented your deferred income rider quote) they don't do income riders due to fees. Your $390k quote had better 'return' than their $540k non-income rider quote as long as I live until 72 (56 now and deferring to 62).

[@StanTheAnnuityMan]

Thanks for sharing your experience! It’s amazing how often Index Annuities with bonuses get hyped without full transparency. Glad you did the math and saw the value in the Deferred Income Rider-real numbers don’t lie! Keep making informed decisions and standing your ground against the sales pitches.

[@myvenusheeler]

I have gone back and forth over a cola versus a nominal spia payout and my math at age 72 shows me it will take around 8-9 years for the cola payout to finally exceed the nominal. And a LOT longer for the total payout over the years exceeds the nominal. There is no money illusion with me, and I vote go with the nominal payout unless you are totally convinced you are actually going to live well past 90 years of age.

[@peaceofcake8464]

I think it's a good idea to have your finances on auto-pilot by the age of 80 to account for cognitive decline and avoid elder financial abuse. The benefit of a SPIA with a COLA is that it's as close to an exact match to what you need going forward as you can get. Sure, stay flexible and optimize year by year while you are still "young", but the time comes when you want to stop messing around with everything.

[@StanTheAnnuityMan]

You’re absolutely right-having finances on auto-pilot by 80 is a smart strategy for peace of mind and protection. SPIAs with a COLA can indeed provide that predictable, steady income many people need as they age. Balancing flexibility when you’re younger with simplicity later on is a great approach to avoid stress and safeguard against potential risks. Thanks for sharing your insight!