People have common goals they want to their retirement money to accomplish. This article explains the three things nearly every person saving for retirement wants.
The number one reason that people purchase an annuity in the first place is income protection, protection from living too long. Think of it as an insurance to protect you from outliving your assets. It is not uncommon, and it is becoming more common, for people to outlive their retirement funds, people are living longer. For many people, it just makes solid sense. With the purchase of an annuity come contractual benefits known as settlement options.
Fixed annuities are issued by insurance companies and offer interest for a specific time period (other benefits also). Variable annuities are securities sold by licensed security brokers, their products (variable annuities) have fees at several layers.
Endowment Annuitie have been been replaced by modern day annuities.. this article explains the evolution of the annuity.
An old man is somebody that runs out of money. An elderly gentlemen is a man that doesn't. Which do you want to be?