Q: We own 2 pieces of property which can sell for about $200,000. Our only income is Social Security. When we sell the property, is it a good idea to put all of the money in an annuity that will pay us monthly?

A: You are asking about an Immediate Annuity. It will pay a fixed income over your lifetime and that of your Spouse, and/or for a certain period of time. It can be a nice choice because you will receive a fixed income every month. This choice is an irrevocable decision as once that tap is turned on, you cannot turn it off. You may want to call to get a few quotes using a portion of the funds vs. all of the funds from the property sales.

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