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actual income than annuities. Better yet, many annuities now offer rates that are comparable to, or even better than those of CDs.
Choosing the right annuities
In addition to tax-deferred growth and competitive returns, annuities also offer a high degree of flexibility. For example, you can choose between fixed and variable annuities. Fixed annuities are purchased with a lump sum and all money invested earns interest until it is paid out. Best of all, your original investment (principal) and your interest rate are guaranteed by the issuing insurance company, so you know your money will keep earning income over the life of the annuity.** Once you begin receiving your guaranteed income, the payments continue for the rest of your life, or for the period of years you select.
Because they offer a guarantee of principal and interest, many investors choose fixed annuities for lump sum distributions received at retirement, or for other large sums accumulated over the years.
Variable annuities for the opportunity
to earn even more
Unlike fixed annuities, variable annuities do not offer minimum guaranteed interest. Instead, their tax
93.5%