Consider immediate annuities5 of 7If you want a guaranteed income payout, annuities are an option. In exchange for a lump sum or payments over a series of years, you get monthly income until you die. "Annuities are an exceptional way to generate income for a period of time or a lifetime," says Shorten.There are many different types of annuities and they come with lots of different features. They can be expensive. It's a good idea to consult with a trusted financial adviser before you decide if an annuity is right for you. Related Articles:Strategies for investorsFund managers' strategiesPros and cons of annuitiesThe pension dilemmaRelated Links:Bond options for retireesFinding retirement incomeActive vs. passive tacticsTarget-date funds a trap advertisement
If you want a guaranteed income payout, annuities are an option. In exchange for a lump sum or payments over a series of years, you get monthly income until you die. "Annuities are an exceptional way to generate income for a period of time or a lifetime," says Shorten.
There are many different types of annuities and they come with lots of different features. They can be expensive. It's a good idea to consult with a trusted financial adviser before you decide if an annuity is right for you.
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