Explore commonly used personal finance terms.
An adjustable annuity is a type of annuity that allows changes to payment amounts or payout frequency based on the annuitant’s needs or market conditions. This flexibility makes it adaptable to changing circumstances, though it may involve higher fees or lower guarantees. Adjustable annuities are suitable for investors seeking a balance between steady income and the option to adjust as financial needs evolve, offering more control over retirement income but requiring close monitoring of adjustments and associated costs.
