Retirement annuities provide guaranteed income in your senior years. That may sound like a solution you need — particularly if you don’t know how long your savings will last. But, like any financial strategy, annuities have their drawbacks. To avoid unpleasant surprises later, it’s smart to evaluate those drawbacks before you lock up your cash in an annuity.
Here’s a closer look at retirement annuities, including what they are, what types you can buy, their best and worst features, and how they compare to other retirement income strategies . Understanding retirement annuities
A retirement annuity is a contract between you […]