8 Facts About Annuities Every Retiree Should Know An annuity is a contract between you and a company — typically, an insurance company. You give the company a lump sum of money, and it promises to make monthly payments to you, either immediately or beginning at some point in the future.
Generally speaking, the motivation for buying an annuity is simple — to create a guaranteed stream of income from your savings. Annuities are maintenance free, and continue to generate income no matter what the economy does. Essentially, annuities can take the guesswork out of managing your money in retirement.
Annuities […]
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