An annuity is a financial product that delivers what sounds too good to be true: guaranteed income for life. Luckily, annuities are a very real source of retirement income that help ensure you don’t outlive your savings. Currently, more than 50% of near- and current retirees know that their Social Security checks and employer pensions aren’t enough to cover their living expenses. Of those, 44% surveyed expressed interest in converting some or all of their savings into an annuity. In fact, 20% of all retirees already use individually purchased annuities as their source of income.
What makes annuities so attractive […]
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