annuties effect on retirement planning?

A set of fixed payments that are made over a specific time period is known as annuity. The most common annuity is made quarterly. However, these annuities might be variable and are mainly regulated by the Securities and Exchange Commission, or they might be fixed annuities, which are not regulated by the SEC.

Annuities can often do a great deal to help you once you retire. It's about enjoying a lump-sum payout, and you may choose to have it on a quarterly or a monthly basis. Alongside your life insurance cost you should also consider your investment period.

You should read the terms and conditions and then decide whether to invest on a fixed or a variable annuity. With fixed annuities you'll earn a fixed percentage of interest, while with variable annuities your interest rates could vary depending on the market conditions. Variable annuities could be a bit risky if you choose to invest on mutual funds or specific stocks.