Annuities (FINRA)
"An annuity is a contract between you and an insurance company in which the company promises to make periodic payments to you, starting immediately or at some future time. Some annuity contracts provide a way to save for retirement. Others can turn your savings into a stream of retirement income."
Types of Annuities
What Are Annuities? Types of Annuities & How They Work (The Balance)
"An annuity is an insurance contract. Many people think of an annuity as an investment, but when you purchase an annuity, you are buying an insurance policy. You're ensuring an outcome."
Annuities: Insurance for Retirement (The Balance)
"An annuity is a financial product that pays out a fixed stream of payments to an individual, and these financial products are primarily used as an income stream for retirees. Annuities are contracts issued and distributed (or sold) by financial institutions, which invest funds from individuals. They help individuals address the risk or outliving their savings."
Pros and Cons:
Advantages of Annuities vs the Disadvantages (The Balance)
Getting the Whole Story on Variable Annuities: The good, the bad, and the ugly (Investopedia)
"If you have maxed out your annual contributions to your 401(k), IRA, or other tax-deferred retirement accounts, you may now be looking into a variable annuity. But before you buy one, consider all the benefits and shortcomings of these complicated insurance products."
The Pros and Cons of Annuities: They can provide income for life, but often at a high price (Investopedia)
"Insurance agents and financial advisors have been investing their clients’ retirement money in annuities for decades. That practice has its detractors, with the criticism usually focusing on the high commissions paid to annuity salespeople and stiff fees charged to annuity owners year after year. Here's a rundown of the pros and cons of annuities, compared with other ways to invest for retirement."
Books
The Complete Guide to Investing in Annuities by
In this book, you will learn exactly what annuities are and how they work. You will be shown all of the common misconceptions about annuities and how you can get past those and decide if annuity investment is right for you. You will learn the primary purpose of an annuity and how they can help diversify your retirement options. You also will learn which risks are immediately associated with annuities in regards to your retirement, including longevity, investment, and planning risks. The specific elements of an annuity are laid out in striking detail, showing you how it works, what the differences are between each major type, and what you can expect from deferring annuities and immediate annuities. The pros and cons of each type and comparisons to other investment options such as CDs, mutual funds and retirement accounts will help you decide how an annuity fits into your portfolio.
ISBN: 9781601387295Publication Date: 2011-06-20
Annuities for Dummies by
This completely revised and updated, plain-English guide is packed with the latest information on choosing the best annuity for your retirement needs. You'll find out exactly what annuities are, whether they're the right financial vehicle for you, and which of the many annuity options might have your name on it. Annuities For Dummies, 3rd Edition, gives you knowledge, insider tips, and expert advice you need to make your money do its best for you.
ISBN: 9781118051931Publication Date: 2011-02-09
