Published on 28 Apr 2024 on Insider Monkey via Yahoo Finance
What is an Annuity for Retirement? 15 Dividend Stocks to Buy Instead
In this article, we discuss what is an annuity for retirement and 15 dividend stocks to buy instead. You can skip our detailed analysis on the subject, and go directly to read What is an Annuity for Retirement? 5 Dividend Stocks to Buy Instead.
For many Americans approaching retirement age, one of the most significant and potentially anxiety-inducing questions they face is: what is an annuity for retirement? An annuity is an insurance product that provides regular payments and is often included in retirement plans. They are mainly issued by insurance companies, where individuals typically invest a lump sum of money in exchange for a guaranteed income stream for the duration of their life, just like a pension or Social Security benefits. Annuities play an important role in financial planning, considering many Americans are not satisfied with the state of their retirement resources. In fact, a survey conducted by BlackRock revealed that 60% of employees expressed their concern about the possibility of outliving their retirement savings.