Retirement Investment Considerations
A well-thought-out asset allocation in retirement is essential. But consideration must also be given to the specific investments that you choose. While it's impossible to discuss every option available, it's worth mentioning investment choices that might have a place in the income-producing portion of your overall investment strategy.
Immediate annuities are a common investment option for retirement income planning primarily because they provide the opportunity to receive a stream of income for the rest of your life, based on the claims-paying ability and financial strength of the annuity issuer. Immediate annuities typically provide the choice of receiving a steady income for a fixed period of time or for the rest of your life, or for the joint lives of you and another. Immediate annuity payments begin within one year from your investment in the annuity and once payments begin, they typically can't be changed, although some exceptions may apply.