annuitize
Make regular payments
To annuitize is to convert a lump sum into a series of regular payments, typically for retirement income.
When you annuitize savings or an investment account, you exchange the principal for guaranteed periodic payments: She annuitized her 401(k) at age 65.
The payments may last for a fixed period or for life.
Entire amount together
- payoutMoney distributed to recipient
- paymentsMoney given for obligations
- installmentsPeriodic partial payments
- streamSteady continuous flow
periodic · cashflow · distribution · immediate · deferred · irrevocable · surrender · contract
Retiree's ongoing benefit
- 401(k)Tax-advantaged retirement savings account
- IRATax-advantaged retirement fund
- superannuationRetirement savings scheme
- savingsAccumulated money kept
longevity · decumulation · drawdown · lifetime · guaranteed · beneficiary · survivorship
Assets yielding constant returns
- variableProne to fluctuation
- indexedEntered into a reference system
- interestAttention, stake, or fee
- dividendsProfits paid to shareholders
yield · portfolio · investment · funds · capitalization · actuarial · insurance · underwriting
lump-sum
Entire amount together
- payoutMoney distributed to recipient
- paymentsMoney given for obligations
- installmentsPeriodic partial payments
stream · periodic · cashflow · distribution · immediate · deferred · irrevocable · surrender · contract · premium
pension
Retiree's ongoing benefit
- 401(k)Tax-advantaged retirement savings account
- IRATax-advantaged retirement fund
- superannuationRetirement savings scheme
savings · longevity · decumulation · drawdown · lifetime · guaranteed · beneficiary · survivorship
fixed-income
Assets yielding constant returns
dividends · yield · portfolio · investment · funds · capitalization · actuarial · insurance · underwriting · solvency
annuitizeaccumulate
Gather gradually
save · contribute · deposit · invest · build up