Annuities Just May Be the Broccoli of Retirement Planning
Getty Images Few of us would go without auto, home, life or health insurance. But the kind of insurance that protects against the risk of running out of money in old age is still greatly underutilized. It’s called a deferred income annuity or a longevity annuity. I believe most people planning for retirement should strongly consider an income annuity, and a Brookings Institution report confirms that belief. The concept of this type of annuity is simple. The buyer deposits a lump sum or series of payments with an insurer. In return, the insurer guarantees to pay you a stream of income in the...
Source: kiplinger.com