Planning

Annuities are a staple in retirement planning, offering a mix of benefits that can provide peace of mind in the later stages of life. However, navigating the components of an annuity, particularly the distinction between the benefit base and the cash value, can be confusing. To simplify this, let's explore these concepts using a relatable analogy: a store coupon. The Benefit Base: Your Special Store CouponImagine you receive a coupon from your favorite store. This coupon is not cash; it has no value outside the store. It’s only useful for getting a discount on a future purchase or redeeming a…