Annuity 101: The Basics of Understanding Annuities
Don’t know much about annuities? Andrew Rosen, a certified financial planner and certified estate planner, joins us to get you up-to-speed on the basics of annuities.
In the first episode of our three-part series, Rosen explains the most common types of annuities and how they work to provide a steady income stream.
An annuity can give you a guaranteed income for life. But there are different types of annuities — each with different benefits and costs. Rosen talks us through the basics to get you started on understanding how they work — and how you can put them to work for your retirement plans.
In this episode, you’ll learn about:
- The difference between a fixed annuity and a variable annuity.
- How annuities work like a pension to provide guaranteed lifetime income.
- The different purposes of annuities and life insurance policies.
- The best age at which to buy an annuity.