Lotteries in the United States are getting bigger and bigger. While the first government lottery happened in 1964, it wasn't until 2016 that any jackpot reached over a billion dollars. In fact, millionaire status seems paltry now that lotteries have been regularly surpassing one billion dollars in prize money. Yes, that is billion with a B. While it is fun to spend your time in rush hour daydreaming about how you would spend that money, would you know what to do if you actually won?
Adequately preparing for retirement is a thought that crosses the minds of many investors, regardless of their ages. If you already have the traditional retirement accounts, such as a 401(k), individual retirement account (IRA), or 403(b), you may wonder what other options are out there to help you prepare for retirement. Here are a couple non-conventional options that you can use to help save for your retirement.
Purchase an Annuity