Annuities can provide you with guaranteed income in retirement, but the amount of annuity payouts you receive each month depends on several factors. For example, your age, gender, amount invested, interest rate, life expectancy, and the type of annuity you choose will all determine how much income you can expect.
For retirees seeking a steady stream of income, an "immediate annuity" is a popular choice. This type of annuity converts the amount you invest (usually a lump sum at the start of the annuity) into regular payments over a set period or for your lifetime. Immediate annuities may be fixed or variable interest.
