Home  | Term of the Day | |||
| annuity [list="padding:0 0 0 19px"] [*]A contract sold by an insurance company designed to provide payments to the holder at specified intervals, usually after retirement. The holder is taxed only when they start taking distributions or if they withdraw funds from the account. All annuities are tax-deferred, meaning that the earnings from investments in these accounts grow tax-deferred until withdrawal. Annuity earnings are also [/list] ... | ||||
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| Usage Example My wife and I recently purchased an annuity as part of our overall retirement plan with the intent of generating greater income in later years. | ||||
Term of the Day
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Join date : 2013-01-12
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