Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
When you buy an immediate annuity, payouts begin shortly after you purchase the contract; in other words, it annuitizes immediately. The size of the monthly payouts is primarily based on the amount you pay for the annuity. Part of each payment you receive is a return of your original investment, and the rest is interest earned during the payout period.
