my understanding is interest from funds but are they invested and you only get the interest so it will last longer? do you still have access to in in an emergency? Please no stupid dumb responses it only junks up this great way to find out thing.
2006-09-10 04:15:18 · 4 answers · asked by MARMIE 2 in Business & Finance ➔ Personal Finance
Annuities are payments to you. Basically you can invest money and in at a set time collect payments over a set period of time. Say like investing $10,000 now and in eight years start collecting $1,000 for 18 months. Granted you now get $8,000 more but other investments might have made you more money if you have the self disipline. Differnent annuities have differnet withdrawal requirements so yes some you can withdraw early or for an emergancy on some. Best bet is to take your question to a banker or even some insurance sells them. They will be able to answer all of your personal questions.
2006-09-10 07:11:21 · answer #1 · answered by Mark S 3 · 0⤊ 0⤋
Annuities for the most part are a rip-off. The company selling the annuity makes a lot of money at your expense. Here's a link to Suze Orman's description and thoughts on them.
2006-09-10 04:24:19 · answer #2 · answered by Stu 3 · 0⤊ 0⤋
It depends on what kind of annuity you get. There will be a penalty for early withdrawal, and in some kinds you cannot withdraw at all. You can set it up so that you get lump sum payments every few years though.
2006-09-10 04:20:02 · answer #3 · answered by Catspaw 6 · 0⤊ 0⤋
Can a beneficiary request the remaining balance in an annuity or do they have to continue
getting monthly payments.
2014-02-13 03:17:57 · answer #4 · answered by Bob 1 · 0⤊ 0⤋