Answer:
Step-by-step explanation:
An annuity is equal streams of cashflows that can compliment payments from social security and pension plans for retirees. Robert should know that taking out all the annuity savings as a lump-sum will make the deferred earnings taxable. A deferred annuity gives an investor options of to either take out all the long term savings in one lump-sum, make withdrawals whenever they need or transfer the amount to a different account.