30-Second Money by Donald Marron

30-Second Money by Donald Marron

Author:Donald Marron
Language: eng
Format: epub
Publisher: Ivy Press
Published: 2019-02-15T00:00:00+00:00


The most famous American investor, Buffett built insurer Berkshire Hathaway into a leading global conglomerate

30-SECOND TEXT

Jason J. Fichtner

Insurance provides protection against loss of life, income or property.

ANNUITIES

the 30-second statement

An annuity is a financial contract that provides regular payments over time. Annuities arise in many contexts, including payments from lotteries and lawsuits, but they are especially important for retirement saving. Outliving your savings is a major retirement risk; annuities help manage that risk by converting savings into predictable payments. Governments structure public retirement programmes as annuities; beneficiaries receive payments as long as they live. Financial institutions, typically insurance companies, also offer private annuities. These allow you to invest some of your savings in return for future payments. Private annuities come in many varieties. Some offer a fixed number of payments, while others continue until death. Some annuities start paying out immediately, while others pay at a future time. Some provide benefits to one person, while others include survivor benefits, providing income after a person’s death to a surviving spouse or children. Fixed annuities provide a guaranteed fixed payment amount. Variable annuities link payments to the performance of financial markets. Variable annuities provide a less stable cash flow, but can be a good option for people who want some investment in financial markets. Good returns could allow a higher payout than a fixed annuity would offer.



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