There is a lot that goes into preparing for retirement. With so many options to consider and the amount of research that goes into it, the entire process can be 
exhausting, as well as confusing. If you are familiar with some of the different retirement income possibilities, it is likely that you have heard of an annuity. However, just because someone has heard the term does not mean that they understand what an annuity is or how it works. The experts at Annuity Genius are here to help you understand annuities and how they can be a good option for your retirement years.
What is an annuity? Very simply explained, an annuity is a financial product that is used to provide a steady stream of income for someone during their retirement years. It is a contract between you and your insurance company. Initially, you will make a lump-sum payment or a series of payments and then, in return, your insurer will make payments to you at some point in the future. These payments can either start immediately or at some point in the future and they may be distributed monthly, quarterly or even in one lump sum.
There are several different types of annuities available. Different options include fixed annuities, variable annuities and many more. Each type of annuity varies slightly, but they can be tailored to meet each recipient’s specific needs.
With so many different annuity options available, we understand that it can be difficult to determine which annuity best meets your needs. Our team of professionals can help you make the most educated decision possible when it comes to planning for retirement and which annuity is best for you. It is never too early to start planning for retirement. Let our team help ensure that you are prepared.