Start by Ditching Your CD
CDs are very low-earners when it comes to interest. An annuity provides more money, more options, and more security.
CD vs. Annuity
A 1-year CD usually earns no more than 1% interest. If you invest $250,000, that's only $2,500 per year before tax.
If you invest that $250,000 in a single premium immediate annuity (SPIA), you could be getting approximately $1,000 every month for the rest of your life.
Which sounds better to you?
$2,500 per year or
$1,000 per month?
Jennifer Lang Financial Services, LLC.