I have retired and have sold my property. Will I be able to buy a life annuity (not a living annuity) using the cash I will receive from the sale of my property (R1.6 million)? I want to secure a guaranteed income for the rest of my life and do not need to leave a legacy.
Dear reader,
Thank you for your question. At the outset, it’s important to keep in mind that there are two types of life annuities, namely compulsory life annuities and voluntary life annuities.Compulsory life annuities require using funds from retirement savings sources such as […]
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