Question

Tommy is 58-year-old and has operated his Roth IRA account for 7 years. He intends to retire at 60. Exactly six months ago, he withdrew 23 of his Roth IRA balance and invested in the stocks of a company that just filed for bankruptcy. He wants a steady income when he is retired. What retirement plan is best for Tommy?

another Roth IRA
an annuity
a traditional IRA
mutual funds

Answer 1

I did not understand very well but later I will give you the answer

Answer 2

Answer:

an annuity is the answer

Explanation:

Annuity is a payment each year for the rest of their life.