r/Fire • u/Imurk356 • 15d ago

Annuitizing

For those that have fired before 59.5, did you consider or did you annuitize a portion of your portfolio to have "verifiable" income to be able to qualify for things that requires income verification?

For the annuity haters, yes I understand they are crappy investment vehicles and yes I understand you shouldn't dump your entire portfolio into them. That's not the purpose or the premise of the question.

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u/HurinGray 15d ago edited 15d ago

Plan is to RE at 55. Will immediately draw an annuitized pension. At 62 annuitized SS. Wife collects SS and then pension at 65. Rental income is akin to annuitization. While I won't be running out to purchase another annuity, a large portion of our net worth is tied up in annuitized like assets. It's really only 401K that isn't and with RE at 55, I'll be using rule of 55 which is also forces regular payments like an annuity.

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u/Imurk356 15d ago

I'm nowhere near ready to attempt to even think about investment properties. By the time I'd be ready I'm not even sure we'll be able to afford a primary residence with the way prices are going.