Enter: the annuity. Annuities are among the most commonly misunderstood and misused financial products. There are so many different types of annuities that to say "you hate annuities is like ...

Due to uncertainties like these, many Americans are turning to annuities. An annuity is a contract between an insurance company and a consumer that provides dependable retirement income.

Since the study was released in 2019, economists and retirement experts at Brookings have continued to advocate for annuities that would pay income to retirees, particularly people aged 80 and above.