An annuity is a contract with an insurance company: you give them money, and in return they give you a guarantee. That is the whole idea. The rest is just choosing which guarantee fits your life. Here is every type, explained in plain English, with the downsides included.
A fixed rate, locked for a set number of years. The savings account's more ambitious cousin.
Read the guideA guaranteed interest rate with no market exposure. Simple and predictable.
Read the guidePrincipal protection plus growth linked to a market index, with a ceiling and a floor.
Read the guideHand over a lump sum, receive a paycheck for life. SPIA and DIA.
Read the guideDeferred income that starts later in life and trims your RMDs along the way.
Read the guideBuffered index growth: more upside than an FIA, with some downside on the table.
Read the guideMarket investments inside an annuity wrapper. We lead with the cons.
Read the guideThese four topics are where good and bad annuities separate. We put them up front, not in a footnote.
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