I am considering annualizing about 15% of my 403(b) portfolio. I will married and will be 70 years old in October. I am interested in hearing from those who have a TIAA annuity. I read conflicting advice as to what is the optimal age to buy an annuity. On the one hand some advise that one should buy an annuity at age 65 (or immediately at retirement) and that delaying the purchase may mean a loss of 5% in future income, and on the other hand, some say that the optimal age to purchase an annuity is your mid-70's.
Finally, has anyone bought a series of annuities over time (laddered the purchases)?
Thanks for any insights.
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