Smoking may be good for your wealth
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Worried about what smoking is doing to your health? If so, you might gain a crumb of comfort from the fact that a smoker aged 65 buying an annuity could be better off by around £3,500 a year than a contemporary smoke-free wrinkly who has probably spent half their life on a macrobiotic diet and the rest of the time in a gym.
This revelation comes from Rockingham Retirement, with figures based on an impaired annuity for £100,000.
This is enough to make a big difference to quality of life in retirement, according to the brokerage.
The firm concedes that more generous annuity rates for smokers are based on their lower life expectancy but if we are all doomed to Alzheimer's and death by boredom in old people's homes anyway, a pact with tobacco could be an attractive option.
Source:
Lending Strategy
