Myth 161 Compulsory annuity is good

Compulsory annuity is good It is a hotly debated proposal, well intented, well meaning, and well thought out. But hardly any believe in it except the people proposing it. Who needs $300 in 35 years time when it is as good as worthless. Even double that amount may be worthless. And who wants to hope to live to enjoy this pittance at 85 when the life expectancy age is 80 to 82 years? The compulsory annuity scheme is supposed to provide the money for the survivors to live by. But how, when the money is definitely not enough. This is a classic myth in the making.