As you get ready for retirement, consider the sources of guaranteed income â Social Security, pensions and savings, and investments â to gauge whether it'll be enough to cover basic expenses.
Annuities are a tax-deferred contract issued by an insurance company that can provide income for a specified time period, such as a number of years or for life. Annuities were designed to help individuals save, grow and protect their retirement assets, as well as provide a stream of steady income payments.