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Finance Dictionary and Glossary of Investment Terms
Annuity, Immediate
Definition 1.
An annuity where payouts begin shortly after you purchase the contract, usually recommended for people who are about to retire. The size of the monthly payouts will primarily be based on how much you paid for the annuity. Part of each payment you receive will be considered a return of your original investment; the rest will reflect interest earned during the payout period.
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