Summerlin Benefits Consulting Q&AAnswer
Oct 15, 2024 - 09:39 AM
Yes, millionaires often buy annuities as part of their retirement strategy. While they typically have diverse investment portfolios, many purchase annuities for the guaranteed income and principal protection they offer. Annuities provide a secure, predictable income stream, which can complement other investments that may be more volatile. For high-net-worth individuals, annuities can help mitigate risk, ensure a steady cash flow during retirement, and offer tax-deferred growth, making them a reliable option for preserving wealth and ensuring financial security later in life.
