[header] How to select annuity payments [title] Decide if a retirement annuity is right for you. [step] Annuities are financial investment options for those who want secure, steady, and guaranteed income during their retirement. An annuity is an illiquid asset, meaning that it cannot easily be sold or exchanged for cash. 
When you cash out of your annuity, you have the option to take a lump-sum payment, or you can choose to have guaranteed payments that are scheduled for a set period of time. [title] Understand how annuities are taxed.