The financial crisis has resulted in renewed interest in immediate annuities which can be used to lock-in stable, guaranteed income for a lifetime.

"An immediate annuity can function just like a pension, producing a predictable payout.  As the "immediate' part of the name suggests, the distributions start shortly after the money is invested."

Longevity risk, inflation protection, how much to annuitize, and adding annuities over time are addressed in this article.

Source: Wall Street Journal

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