Simply put Annuities are an Insurance Policies for Your Savings, which can be a valuable tool for retirees.
During our Working Years the investment goal should be to grow our retirement funds as much as possible. To accomplish this most people choose a mix of high risk and moderate risk investments, because they know that over time the Market has proven to be a steady investment. Even taking into account potential losses, after enough time has passed your money will return to growth.
Unfortunately retirees don't have the luxury of Time to heal losses from the market, which is why most seniors choose a less risky strategy to managing their Nest Eggs. One of the Most Popular strategies retirees use in an Annuity. They offer Steady Growth, Protection from Market Losses and Can Be Customized to Fit any Individuals Needs.