The Advisor Insights question and answers can be found on Investopedia here. Question Headline: What is an annuity? Answer: An annuity is a sum of cash invested to produce a flow of money for a fixed period. To simplify, an annuity is money invested with an agent or broker, that grows over time. The owner of…
Author: Wyatt
The Advisor Insights question and answers can be found on Investopedia here. Question Headline: What’s the difference between a 401(k) and a pension plan? Answer: A 401(k) and a pension plan are both retirement plans set up between an employee and employer. The main difference is that a 401(k) is a defined-contribution plan, while a pension…