But that $1 million is actually an annuity, which pays out about $25,000 over 40 years—before taxes.
With the remaining $1.775 million, he can buy an annuity that yields almost $89,000 - which still beats working.
He bought an annuity in the king's household and became one of the Gentlemen of the bed chamber.
She compromised for an annuity of two hundred pounds, to be continued to her child.
Sometimes a father leaves an annuity for the support of his daughter in her convent.
It is only fair to tell you that I have no money but my annuity.
The worthy man, who showed such judgment in the matter of his annuity, was at fault here.
On her 75th birthday Susan's girls had presented her with an annuity of $800 a year.
Bad corn years had driven some of the native Christians to take refuge among the annuity Indians of the Mississippi.
He's got some kind of annuity from a New York life insurance company.
early 15c., "a yearly allowance, grant payable in annual installments," from Anglo-French and Old French annuité (14c.) or directly from Medieval Latin annuitatem (nominative annuitas), from Latin annus "year" (see annual (adj.)). Meaning "an investment that entitles one to equal annual payments" is from 1690s.
A sum of money payable yearly or at regular intervals.
Note: Many people's retirement funds are set up to be paid in annuities.