Tax-deferred Annuity
What is it? An investment that postpones (but doesnt eliminate) taxes on earnings until you dip into the savings, usually for retirement. A fixed annuity pays a set amount at regular intervals. Payouts from variable annuities change, because they depend on the success of the investments that make up the annuity. You usually have no restrictions on how much you can save, but you cant dip into the savings until you are 59? years old (or else you face significant taxes, tax penalties, and penalties from the company issuing the annuity.)Added By: Lillian
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