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The Independent UK
The Independent UK
National
Liz Weston

Liz Weston: Why retirees may want to buy an immediate annuity now

Liz Weston Rob Williams Wade Pfau NerdWallet Charles Schwab Insurance Social Security
Nerdwallet

An immediate annuity is an insurance product that provides guaranteed income: You give an insurer a chunk of money, and the company gives you a stream of payments that can last for life. The payments begin within 12 months of purchase.

Now may be a good time for retirees to buy an immediate annuity, since payouts are the highest they’ve been in a decade, says Rob Williams, managing director of wealth management at Charles Schwab.

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