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He wants an annuity. What he has are guaranteed investment certificates maturing at different times.

This logistical challenge was presented to me by a reader whose husband wants to buy an annuity with savings in his registered retirement savings plan when he retires in a few years at age 68 or 69. A quick refresher on annuities: They’re a contract with an insurance company to exchange a sum of money for guaranteed income payments lasting as long as you live. If you don’t have a pension, annuities are worth a look for part of your retirement savings.

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