Fact checked by Katrina Munichiello Reviewed by Chip Stapleton If you're about to retire and own an annuity, you might be ...

That’s where annuitization comes in. Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper ...

Note: Some variable annuities guarantee a return of premium, which means that all invested funds (minus fees) will be paid out during annuitization even if the underlying portfolio loses value.

That growth occurs on a tax-deferred basis until the annuitization phase, when regular payments begin. These payments, or distributions, are taxed when you take them, though how much depends on ...