I have an old "zombie" account (about 30 years old) with TIAA that has about $60k in TIAA Traditional. I was looking at closing it out now that I'm retired and comparing the 10 year payout and a single lifetime annuity. I don't need the income I just wanted to tidy things up, but the payout on the single life annuity starting at age 63 (ie in 2024 for me) is 9.45% - I get a 2% bonus. I would normally have taken the 10 year payout and just invested the money in a general account, but the 9.45% for life looks like a good bet. What would you do?
Statistics: Posted by nun — Fri Jan 26, 2024 12:53 pm