dixie bell
2 Answers
TSC
The term annuity is used in finance theory to refer to any terminating stream of fixed payments over a specified period of time.
This usage is most commonly seen in discussions of finance, usually in connection with the valuation of the stream of payments, taking into account time value of money concepts such as interest rate and future value.
I have a retirement annuity I'll be collecting till I die.
Hopefully when I'm 98.
| 14 years ago. Rating: 4 | |
robertgrist
When I choose not to do as my family had planned for me to do my annuity was stopped.
annuity |??n(y)o?it?|
noun ( pl. -ties)
a fixed sum of money paid to someone each year, typically for the rest of their life : he left her an annuity of $1,000 in his will.
• a form of insurance or investment entitling the investor to a series of annual sums : [as adj. ] an annuity plan.
ORIGIN late Middle English : from French annuité, from medieval Latin annuitas, from Latin annuus ‘yearly,’ from annus ‘year.’
| 14 years ago. Rating: 1 | |
There is a ROTH IRA, where you put money in but when you take it out after 59 and half age, you pay no taxes on it.
In a Traditional IRA you deduct on your taxes yearly from your
income. When you take it out after 59 and half you pay taxes on it then. The idea is you are in a lower tax bracket to pay less taxes then.
There is limits on some retirement annuity accounts.
There is immediate pay out annuities that after a lump sum giving to the company they can pay you back monthly on a giving plan you have selected.
If you select life pay out, they would pay you untill you die no matter your age.
Under that plan if you die 3 months later they may keep the money given to them.
Do a lot of checking to make sure which one is for you......Ask lots of question have the answers in writing!!