The Gov
by on October 16, 2021  in Investing /
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People typically buy annuities to help manage their income in retirement. Annuities provide three things:

  • Periodic payments for a specific amount of time. This may be for the rest of your life, or the life of your spouse or another person.
  • Death benefits. If you die before you start receiving payments, the person you name as your beneficiary receives a specific payment.
  • Tax-deferred growth. You pay no taxes on the income and investment gains from your annuity until you withdraw the money.
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