Fortunately, annuities can protect us from running out of money in retirement.
But what kind of annuity should you buy? How much do they cost? And what are the pros and cons of saving for retirement with an annuity?
On this episode of Queer Money, we explain how annuities function as an insurance contract (not an investment) and what differentiates immediate from deferred annuities.
We walk you through the life phases of an annuity, describing what factors influence the cost of an annuity and why we recommend working with a fee-based agent rather than a commission-based one.
Listen in for insight on using riders to make an annuity specific to you and learn the top three reasons why people choose to make annuities a part of their retirement savings plan.