Jim and Shirley fear the market downturn will eat into their retirement savings. Should they buy an annuity to see them through?

Jim and Shirley fear the market downturn will eat into their retirement savings.  Should they buy an annuity to see them through?

Jim and ShirleyChris Donovan/The Globe and Mail “My wife and I are retired and nervous with this downturn that we will not have enough funds to see us through,” Jim writes in an e-mail. “We are looking to buy an annuity to improve our stability.” Jim is age 60, Shirley 61. They have three adult … Read more

Need secure retirement income? Rising interest rates have juiced annuity payouts

Need secure retirement income?  Rising interest rates have juiced annuity payouts

Along with GICs, annuities demand a fresh look as interest rates soar. Both are minimal-risk, conservative investments that were long avoided by many people because their returns reflected persistently low interest rates. Rising rates this year have improved returns for both dramatically. Annuities are insurance contracts where you turn a lump sum of money over … Read more