With uncertainty surrounding Social Security and fewer employer-sponsored pension plans, many of today’s investors are facing a tough road to retirement. And the average retirement is longer than ever before—sometimes as much as 30 years. How do you go about creating retirement income that will last as long as you need it to?
An income annuity is an insurance contract that promises a guaranteed stream of income over a period of time, in exchange for a lump sum of money. It’s like purchasing a paycheck for life.
Talk to your advisor about whether an income annuity is right for you.