Straight Life Annuity Explained in Simple Terms
I recently caught up with my Uncle David at a family wedding. While shooting the breeze, he told me that he had just retired. He reminded me, after all, that he had just turned 65. However, he was concerned about outliving his retirement income — a common concern amongst most retirees. As far as my uncle goes, I get his concern. He’s in great health and our family has excellent genes. So, I recommended that he purchase an annuity. Before I could go any further, he told me that he had already done his research and annuities are appealing. But, he’s not exactly sold on them just yet. If my uncle...