How Long Will a Million-Dollar Annuity Last? Insights and Strategies

Discover how long a million-dollar annuity can last based on withdrawals and interest rates.

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The duration of a million-dollar annuity depends on various factors such as the interest rate, withdrawal amount, and frequency. For instance, if you withdraw $50,000 annually with a 4% return rate, it could last about 30 years. Consult a financial advisor to tailor this to your specific needs.

FAQs & Answers

  1. What factors affect the duration of a million-dollar annuity? The duration of a million-dollar annuity is influenced by the interest rate, withdrawal amount, and frequency of withdrawals.
  2. How can I maximize my annuity's longevity? Consider working with a financial advisor to tailor your withdrawal strategy and optimize interest rates.
  3. What is the average return rate for annuities? The average return rate varies but is often around 4% depending on market conditions and the product type.

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