Conclusion
An annuitize is a term that is commonly used in the financial industry. It refers to the process of converting a sum of money into a series of regular payments that are paid out over a specified period of time. This process is often used to provide a steady stream of income to retirees or other individuals who need a reliable source of funds.
Definitions
Annuities are financial products that are designed to provide a regular income stream to individuals who have retired or who are nearing retirement. An annuitize is the process by which an individual converts a lump sum of money into an annuity, which then provides regular payments over a specified period of time.
Origin
The term “annuitize” comes from the Latin word “annua,” which means “annual payment.” The concept of annuities dates back to ancient Rome, where soldiers were often paid in annual installments.
Meaning in different dictionaries
According to the Merriam-Webster Dictionary, to annuitize means “to convert (a sum of money) into an annuity that provides a regular income for a specified period of time.”
Associations
Annuities are often associated with retirement planning and are used to provide a steady income stream to individuals who have retired or who are nearing retirement.
Synonyms
Some synonyms for annuitize include convert, transform, and change.
Antonyms
Some antonyms for annuitize include withdraw, disburse, and spend.
The same root words
The word “annuity” is derived from the Latin word “annua,” which means “annual payment.”
Example Sentences
- John decided to annuitize his retirement savings so that he could have a steady stream of income in his golden years.
- After winning the lottery, Sarah chose to annuitize her winnings and receive regular payments over the next 20 years.
- The financial advisor recommended that the client annuitize a portion of their savings in order to ensure a reliable source of income during retirement.
In summary, annuitize is a term used in the financial industry to describe the process of converting a lump sum of money into a series of regular payments over a specified period of time. This process is often used in retirement planning to provide a steady income stream to individuals who have retired or who are nearing retirement.