Annuities can help address one of your fundamental concerns: Outliving your savings. They can be designed to offer you guaranteed lifetime income payments, which may give you freedom to fulfill your retirement dreams and help with your financial peace of mind. They also give you flexibility to use your cash however you choose.
Like virtually every financial product, there are tons of variations to suit different goals. This also makes it confusing for people looking into annuities for the first time.
Each has different pros and cons. Consider your financial planning goals and your risk tolerance. Those are good indicators of which type is right for you.
You can purchase each type above as either an immediate or deferred annuity.
