Retirement

What is the present value of a $2,521 Social Security benefit to a woman who starts receiving the benefit at age 66 and has those payments last until she passes away at age 90? The answer is $412,896. This figure likely surprises many people. The reality, though, is that $412,896 is the amount you would need to purchase an annuity --if, that is, an annuity like this actually existed--that offers the $2,521 payment. It is also important for people to understand that the $412,896 should be...