[IMGCAP(1)]For years, annuities have been considered to be a solution for outliving your income and available assets.
Whether in the form of pension income, with tax-deductible contributions, tax-deferred growth and taxable income, or from non-qualified assets using after-tax monies with the resultant future income partially a return of principal and partially taxable, the goal has been the same. In essence, to create a stream of income one cannot outlive. Also, depending on the payment structure, there might be residual benefits to the heirs and/or beneficiaries.
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