They were purchased in 2012. They included a guaranteed minimum return, which was locked into the sum used to calculate my payout. That can't go down. (I'll ignore the possibility of something truly catastrophic happening.)
I just ran the numbers using this calculator: https://www.calcxml.com/calculators/how-long-will-my-money-last?skn=#results
If there is no growth whatsoever in the current value of annuity 1, it will last 17 years, at which point they are still obligated to pay my guaranteed benefit. At 6% growth, it would last pretty much forever. Annuity 2 will last 19 years with zero growth, as it's worth slightly more at this point, although the same sum of money was invested in each. Any residual value depends on the performance of each fund while I am still alive. On one hand, it would be nice to live long enough to get into their money, as my financial guy has said, but on the other I wouldn't mind leaving a bit to my son. Although I seriously doubt I will have spent down all my assets by the end of my life, and even if I do there would be a life insurance policy with a reasonable, although not huge payout.
What I don't get about the 4% rule, is increasing your payout each year depending on that year's inflation. I only every few years find a need to slightly increase what I take from my investment portfolio. My investments are in three different accounts. Currently I'm taking money out each month from the largest of the three. Right now the value of that fund is such that my draw is just over 4% of that sum. The other two are a Roth IRA, and a regular retirement account. I'm now doing RMDs from that second one.
Anyone looking at buying an annuity today only needs to be concerned about exactly what you can purchase today, at today's rates. What I could get nine years ago doesn't matter any more. I just want people to understand that all annuities are not a rip-off, which is the sentiment I often see here.
Sounds like you are doing quite well with your investments. Keeping just the one individual stock makes absolute sense. Especially if it's generating a reasonable income from it. Will it to your children, or whoever, but advise them to sell soon after inheriting it.
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