How do you define “financial freedom”? Would you agree that financial freedom means never worrying about whether you could pay your monthly bills because the income you receive per month is more than your monthly expenses? And what if you could receive that income for the rest of your life without lifting a finger to receive it?
According to the Social Security Administration, 10,000 baby boomers turn 65 every day, and this will continue every day for the next 12 years! Let that sink in for a minute. As you might have guessed, this is going to be monstrous on Social Security and Medicaid which is why even the US government is actively suggesting people add an annuity to their retirement portfolio. But what is an annuity?