We all know the difference between a mutual fund, a pension, and a savings account . You don’t spend too much time thinking about what a savings account IS, but rather, what it DOES for you. The same with a pension. A pension has one purpose: to pay you an income you can never outlive. Easy stuff. Mutual funds have typically one main purpose: to help you try to grow your money, but with more risk than a bank account or a pension. So, what is an annuity? Well, it can combine all of these features in one instrument. Today, we'll break down the basics of annuities to help make them simple and easy to understand. A fact filled show you don't want to miss, MASTERING MONEY is on the air!!!