When Is the Best Time to Consider Purchasing an Annuity

question 128

Multiple Choice

When is the best time to consider purchasing an annuity with all or part of your retirement funds?

• A)when you first sign up for a plan
• B)at age 30
• C)at age 50
• D)when you retire

---

Definitions:

Trial Balance

A bookkeeping worksheet listing the balance of all ledgers for checking the balance of debits and credits, serving as a preliminary step to financial statements preparation.

Recording Process

The systematic procedure of capturing financial transactions in accounting records.

General Journal

A primary accounting record where financial transactions are recorded in chronological order, detailing debits and credits for those transactions.

Analyzed

The process of examining and breaking down data or information in order to gain better insight and make informed decisions.