Abby aged 75, recenty became a widow. She sold her house and will soon move...
90.2K
Verified Solution
Link Copied!
Question
Finance
Abby aged 75, recenty became a widow. She sold her house and will soon move to a retirement home closer to where her children live. She has about $500,000 worth of investable assets and would like to draw a predictable income stream from it to cover her monthly expenses from now on. Her mind is not as sharp as it used to be, and she was never very interested in financial matters to begin with, so she wants a simple product that she will not have to worry about later. she does not want the hassle of having to make investment decision or track return rates and renewal rates.
Which one of the following options would best suit Abby?
a. A variable income annuity
b. A fixed income life annuity
c. An accumulation annuity
d. Guranteed investment certificates
Abby aged 75, recenty became a widow. She sold her house and will soon move to a retirement home closer to where her children live. She has about $500,000 worth of investable assets and would like to draw a predictable income stream from it to cover her monthly expenses from now on. Her mind is not as sharp as it used to be, and she was never very interested in financial matters to begin with, so she wants a simple product that she will not have to worry about later. she does not want the hassle of having to make investment decision or track return rates and renewal rates.
Which one of the following options would best suit Abby?
a. A variable income annuity
b. A fixed income life annuity
c. An accumulation annuity
d. Guranteed investment certificates
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.