The guaranteed income of an annuity makes it a valuable retirement product for many families. While there are many different types of annuities, the two broadest categories are immediate versus deferred contracts. With an immediate annuity, you purchase the contract lump sum and begin receiving payments immediately. On the other hand, a deferred annuity lets you invest in the contract over time and begin receiving payments at a future date. Here’s what you need to know.
A financial advisor can help you decide on retirement options for your specific needs. What is annuity?
An annuity is a contract […]
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