Retirement Resource - The Truth About Annuities by Weisman 1
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The Truth About Buying Annuities by Steve Weisman
(FT Press, 2008)This new book, written by Attorney Steve Weisman, looks at many of the basic features of annuities. Excerpts provided here are copyrighted by Pearson Education, Inc. and are used with its permission. (Note: This does not imply endorsement of the book or its contents by NBR).
Excerpts:
"Immediate annuities are a financial product designed to provide you with an income stream for life. They are bought with a single lump-sum payment and begin to make payments to you right away. Instant gratifi cation. What could be more American than that? For example, you give the insurance company, say, $100,000, and it pays you $600 per month for the rest of your life. Immediate annuities can either be fixed rate or variable rate..."
More of the Excerpt on Immediate Annuties (PDF)
"Deferred annuities are annuities you purchase that will not begin to pay you until some time in the future as specified within your annuity, although you can choose to end the deferral period earlier. They may pay you in the future at a fixed rate or a variable rate. The amounts that you receive from a fixed rate deferred annuity can vary considerably from what you may receive from a variable rate deferred annuity..."
