Retirement

The Hartford Financial Services Group has apparently sent a letter directly to annuity owners informing them of the "opportunity" to trade their older variable annuity contracts for new and repriced variable annuities.

Some industry observers consider the letter and offer self-serving at best.  Apparently many of the older contracts contain the type of impossibly rich benefits that created so much of the recent trouble at the Hartford.

$3 million in savings buys roughly $5,000 per month or $60,000 per year in inflation adjusted income.

This is inflation adjusted fixed income rather than annuity-based income.

Click here for more on TIPS and inflation adjusted retirement income.

Barclays Bank recently announced the launch of two new retirement income products: