Retirement Basics: What Is An Annuity?

July 6, 2020 by David Rodeck

An annuity is an insurance contract that exchanges present contributions for future income payments. Sold by financial services companies, annuities can help reinforce your plan for retirement.

Full article at Forbes.

Wink’s Note: Gains are locked-in; you can never lose money when the market index declines on an indexed annuity.

There are no losses.

A floor is always provided.

Indexed annuities do NOT have fees like a variable annuity.

You CAN take money out of an annuity, free of surrender charges, every year.

Originally Posted at Forbes on June 29, 2020 by David Rodeck.