On The Huffington Post, Dan Solin writes that immediate annuities are a less publicized yet suitable investment for retirees or those about to retire. He cites evidence that people who invest in an immediate annuity as part of their retirement portfolio are less likely to outlive their savings, a big concern for baby boomers.
Several companies offer immediate annuities, including:
- Vanguard
- Fidelity
- Charles Schwab
- TIAA-CREF
While these products can be appropriate for many investors, Solin points out that agents earn lower commissions from their sale when compared to other annuity products (e.g. equity-indexed annuities, variable annuities).
