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Why It Rarely Pays to Wait on Taking Withdrawals from a Variable Annuity Guaranteed Living Withdrawal Benefit Rider
Michael Kitces in Nerd's Eye View Link to more items from this source
July 2, 2014
"While it seems that many retirees prefer to ... wait -- perhaps in no small part due to the confused belief that their cash value is guaranteed to grow at 5%/year, when in truth it's simply their benefit base against which withdrawals can be taken -- a deeper analysis reveals that in the end, most retirees with a [Guaranteed Living Withdrawal Benefit (GLWB)] rider may do little more than pay a lot in annuity costs to receive a guarantee to just spend their own original contributions and nothing more."

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