An annuity is a financial product that provides a stream of income over a set period. Annuities are often used in retirement planning as a way to generate income from a lump sum investment.

Here’s how the Rule of 72 works: Divide 72 by your expected annual interest rate (as a percentage, not a decimal). The answer is roughly the number of years it will take for your money to double. For ...

Learn what compound interest is, how it’s calculated—from annual rates to continuous compounding—and why it’s powerful for savings (and dangerous for debt).

In the world of finance, an annuity is a contract between you and a life insurance company in which you give the company a lump sum or series of payments, and in return, the insurer promises to ...