What is an Annuity?
Despite the fact that many people are familiar with the term ‘annuity’, many might not understand what it actually means or how it can be used to help them plan ahead for a successful financial future.
Simply put, an annuity is an insurance product that will pay you income based on money that you have previously put in. An annuity is commonly used as part of a retirement strategy. They are often popular choices for investors who wish to see a regular and steady income stream in their retirement. According to the Government Accountability Office, annuities can be an important part of an overall retirement plan.
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The short answer is YES; of course it takes money to make money. To make money in the stock market, you must have money to make the initial stock purchases. Starting a business requires money to buy inventory, marketing materials, office space and equipment. Even lottery winners had to have the seed money required to buy the ticket. The only exceptions that come to mind are inheriting, stealing or finding money.