Variable Annuities
from Wells Fargo

Variable annuities are tax-deferred investment products that include some sort of insurance-like benefit, which guarantees you'll be paid a stream of income for life after you retire. Variable annuities also typically offer death benefits, payable to your heirs after you die. You choose from various subaccounts (similar to mutual funds) which invest in stocks, bonds, and money markets. There's no limit to the amount you can put into an annuity and you won't pay taxes on earnings until after you start receiving payments.