Market Terms

We don't know everything about the markets.  We're just devoted to learners.  Taken from those smarter than ourselves, here's how we define Annuity.

Contracts issued and distributed by financial institutions in which the funds are invested with the goal of returning fixed payments at a later date.  Annuities are typically used by retirees to prevent savings accounts expiring before their owner.  Annuities begin in an accumulation phase and eventually reach an annuitization phase where they begin paying out for either a fixed period or for the annuitant’s remaining lifetime.  They were designed to be a reliable means of securing cash-flow for an individual during their retirement period.