What is an annuity?
Annuities are long-term retirement planning tools that can provide a steady, predictable source of income for life, no matter how the stock market performs or how long you live. Having an annuity as part of your overall retirement financial plan can help you:
Add variety to your retirement savings
Let your money grow without paying taxes right away
Generate income through withdrawals or regular payments over time
Have peace of mind in the face of market downturn or instability
There are many types of annuities based on risk and income potential, how you plan to pay for the annuity and how soon you want to start receiving payments.
