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The immediate annuity: Instant retirement income and peace of mind Retirees and those approaching retirement are better off having an immediate annuity than other kinds of annuities, which charge hefty fees and early withdrawal penalties and can be less suitable for many clients, according to this article on The Motley Fool. Those who have bought an immediate annuity will receive a monthly paycheck starting at retirement throughout their lifetime. Clients also can customize the terms based on their needs and preferences, such as increasing payments to adjust to inflation over time.  –The Motley Fool

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