An annuity is an insurance contract whose payments are guaranteed by the insurance company issuing the contract. It can be a way to protect your nest egg while still allowing your money to grow over the course of your lifetime.
A fixed annuity does not have any exposure to the stock market (either upside or downside), so it eliminates much of the risk to your money over the years. After paying into a fixed annuity for a set amount of time, the insurance company provides you a guaranteed monthly payment. A fixed annuity is at the heart of Kindur’s Retirement Paycheck.