A Wonderful Read On Income For Life
by Walter Updegrave (2016) @CNNMoney
I know that immediate annuities can provide lifetime retirement income, but I would like to understand more about how they work and how to choose one. \
Can you help? --K.T.
Given how the market's been misbehaving lately, it makes perfect sense that immediate annuities' lifetime payments would hold greater-than-usual appeal to people who are retired or getting ready to call it a career.
Even aside from the obvious financial security that assured monthly income can bring, payouts that are guaranteed not to go down no matter how much the market may fall can also yield valuable emotional and psychological perks. A variety of studies and surveys show that retirees who have guaranteed income in the form of a pension or annuity tend to be happier in retirement than those who don't.