An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.
Tim Harrington is the Chairman and CEO of start-up eRollover.
Tim is a seasoned technology and consumer marketing entrepreneur. Among Tim’s accomplishments is the ecommerce company Fogdog Sports--a venture he led from inception through successful IPO and post-IPO merger.
We had the opportunity to speak with Tim before his presentation at the Finovate conference in San Francisco.
Annuity Digest: How did you become interested in the retirement market and the opportunity with eRollover, and what is your larger vision for the venture?
Tim Harrington: I know the technology and...
Walter M. Bortz II, M.D., is a Clinical Associate Professor of Medicine at Stanford University School of Medicine and a graduate of Williams College and the University of Pennsylvania School of Medicine.
Recognized as one of America’s leading scientific experts on aging and longevity, Dr. Walter Bortz's research has focused on the importance of physical exercise in the promotion of robust aging....
