Consider an annuity.
An annuity is when you pay money to an insurance company in return for its agreement to pay either a regular fixed amount when you retire or an amount based on how much your investment earns. There is no limit on how much you can invest in a private annuity, and earnings aren’t
taxed until you withdraw them.
However, annuities present complex issues regarding taxes, fees, and withdrawal strategies that may not make them the best investment
choice for you. Consider discussing this type of investment first with a financial planner.
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