This article discusses the importance of planning for retirement income and explores the option of annuities as a source of income.
, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You’re reading an excerpt −After a couple of short weeks and a long Easter break, I’m betting many of you are looking at the pile of uneaten chocolate sitting in your kitchen and hoping you’ll never see another Easter egg again. But before we get too far into April, there’s one more egg you should give some thought to: your nest egg.
However, when it comes to retirement income, there’s another option that doesn’t get a lot of airtime – annuities. Annuities are a fixed income stream financial product where the user is provided with a set guaranteed income over a period of time in return for their investment. For example, you could invest $100,000 for a fixed term and you would be paid a set amount of interest at a regular interval for the duration of the annuity. At the end of the term, you would receive back the amount you invested. Alternatively, you can choose to draw down on your capital to receive a higher payment.
Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.
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