Experience with annuity for rentista?

[doodleday]

Has anyone created an annuity for the purpose or showing passive income for rentista residency? Would this be a better option than an irrevocable trust? Please share any info you can, thanks!

 

[Cordoba]

I think it is better but have no proof. It creates a contractual, recurring payment from an identifiable financial institution from a single standard application. Simple for Migraciones to understand. If the funds would be sitting in a savings account or CD otherwise it seems like a no brainer.

Irrevevocable trust can do the same thing but with a higher document burden. Need a trustee and then potential services of a accountant and/or attorney if you aren't a DIYer.

 

[doodleday]

I think it is better but have no proof. It creates a contractual, recurring payment from an identifiable financial institution from a single standard application. Simple for Migraciones to understand. If the funds would be sitting in a savings account or CD otherwise it seems like a no brainer.

Irrevevocable trust can do the same thing but with a higher document burden. Need a trustee and then potential services of a accountant and/or attorney if you aren't what do you

I think it is better but have no proof. It creates a contractual, recurring payment from an identifiable financial institution from a single standard application. Simple for Migraciones to understand. If the funds would be sitting in a savings account or CD otherwise it seems like a no brainer.

Irrevevocable trust can do the same thing but with a higher document burden. Need a trustee and then potential services of a accountant and/or attorney if you aren't a DIYer.

What do you think about just a regular brokerage acct? I spoke with a rep at fidelity and as far as i can see it checks all boxes and they can write me a cover letter stating i will receive a fixed amount of money every monthly indefinitely but for no less than 2.5 years. Do you think its impermanant nature would be a problem?

 

[Cordoba]

I think it would be a potential issue. Anything the broker is going to write might demonstrate current wealth and liquidity, but it does not necessarily demonstrate stable income. The issues might be that it is self-directed, revocable, dependent on sufficient account assets and potentially a return of principal rather than income generated by the assets.

Immediate Annuity or Irrevocable Trust can turn what would could be just a return of principal in a regular brokerage account into rentista income so you could probably meet the requirements with a fraction of what it might take in a brokerage account.

 

[doodleday]

Thanks, i appreciate you

 

[doodleday]

I think it would be a potential issue. Anything the broker is going to write might demonstrate current wealth and liquidity, but it does not necessarily demonstrate stable income. The issues might be that it is self-directed, revocable, dependent on sufficient account assets and potentially a return of principal rather than income generated by the assets.

Immediate Annuity or Irrevocable Trust can turn what would could be just a return of principal in a regular brokerage account into rentista income so you could probably meet the requirements with a fraction of what it might take in a

I think it would be a potential issue. Anything the broker is going to write might demonstrate current wealth and liquidity, but it does not necessarily demonstrate stable income. The issues might be that it is self-directed, revocable, dependent on sufficient account assets and potentially a return of principal rather than income generated by the assets.

Immediate Annuity or Irrevocable Trust can turn what would could be just a return of principal in a regular brokerage account into rentista income so you could probably meet the requirements with a fraction of what it might take in a brokerage account.

 

[doodleday]

I think it would be a potential issue. Anything the broker is going to write might demonstrate current wealth and liquidity, but it does not necessarily demonstrate stable income. The issues might be that it is self-directed, revocable, dependent on sufficient account assets and potentially a return of principal rather than income generated by the assets.

Immediate Annuity or Irrevocable Trust can turn what would could be just a return of principal in a regular brokerage account into rentista income so you could probably meet the requirements with a fraction of what it might take in a brokerage account.

Are you from the US, do you know anyone who could help me get a 2.5 year annuity? I can only find 3 year ones but i dont have enough $ for that, i only have 53k available right now and id have to open an annuity with a single lump sum