: You hand over a lump sum, and the checks start within 30 days. This is the "cleanest" way to get a guaranteed lifetime paycheck.
: At 70, you have a clear picture of your fixed costs and your Social Security income. An annuity can act as a "personal pension" to bridge the remaining gap. The Best Types of Annuities at 70 buying an annuity at 70
Should a 70-year-old buy an annuity? Here's what to know now. : You hand over a lump sum, and
While the "guaranteed income for life" part sounds great, it comes with specific compromises: often in your favor.
The math behind annuities changes as you get older, often in your favor.