What Is a Retirement Annuity?
From the U.S. News & World Report website
An annuity is an insurance product that offers guaranteed income. In its simplest form, an annuity involves setting aside a certain amount of money and then receiving regular payments over a designated time period. This might consist of ongoing paychecks that are guaranteed for your lifetime or for the next 10 or 20 years.
There are many different kinds of annuities. Before taking action, you’ll want to understand how a retirement annuity works and how to choose the best retirement annuity for your circumstances. Here’s a look at what’s available on today’s market, along with the pros and cons of using annuities for retirement.
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