
Still hanging in there? Great! There are two main reasons people buy annuities. One is to save more for retirement. Another is to turn savings into income during retirement. So there are two main types of annuities, depending on whether you need retirement income now or later.
Still working and want to invest more? Choose a deferred annuity, which literally defers or delays your income payments until later.
Ready to retire? Consider using a chunk of your retirement savings to buy an immediate annuity, which may start sending you income right away.
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