Guys,
I have been using this site.
https://www.immediateannuities.com/
Easy to plug in values, and gives you payout info without needing to enter an email or anything.
I am starting to keep track of payout rate. They absolutely have gone up. Right now at 55, if I put in 500k, life with cash refund (this is joint me/wife, and if we die before principal is used up beneficiaries get the remaining), starting in 5 years, is $2865 a month. $34,380 a year.
Fine print is: The Cashflow or Payout Rate is 6.88%.
There is no indexing for inflation, they stopped doing those types a while ago I believe. I sort of worry about this aspect.
I've also started looking at a couple covered call type ETFs, DIVO and JEPI as I mentioned. Both have outstanding yields, and do some covered calls (not on 100% on holdings) to juice things. Might be an interesting option to mimic an annuity.
If, if, if...I cashed out everything I currently have to our name (except the house), I could start an immediate annuity at a $7900 a month rate. And still keep working. But totally easily livable at that rate (we currently use about 1/3 of that in regular living)
The only question then becomes healthcare.
And this number will go up after a presumed rate hike in Sept. I cannot forecast the future, but after Sept might be a good bet to take advantage of rates.
At a minimum, knowing these numbers has given me some peace of mind.