If I am getting ready to retire at 65 years old and I have 200,000.00 dollars in a personal retirement account, would it be better to take the money and pay off my house reducing
my bills to about 1,500.00 dollars a month and have about 70,000.00 left to help
supplement my Social Security check of 1,800.00 that I will receive every month until i
die. But when the 70,000.00 runs out it runs out. Or should I re-invest my 200,000.00 in
an annuity, be guaranteed about 1,000.00 dollars a month on top my Social Security of
1,800.00 dollars a month, 2,800.00 a month until I die, but I will still have a 1,300 dollar
house payment until I am 75. What should I do and why? I plan on living until at least
85 years old.