Infielder Bobby Bonilla of the MLB's New York Mets at a game against the Los Angeles Dodgers at Dodger Stadium, July 25, 1993.
Stephen Dunn | Getty Images Sport | Getty ImagesFormer Major League Baseball player Bobby Bonilla collects a $1,193,248.20 check from the New York Mets every July 1, and he'll continue to do so until 2035.
In fact, ever since, July 1 has been known as Bobby Bonilla Day.
Annuities provide a guaranteed stream of incomeAn annuity is a lump sum of money, often taken out of a retirement plan, which is converted into a future stream of income, or annuitized.
The allure for investors is a guaranteed stream of income, much similar to Social Security or pensions.
Persons:
Bobby Bonilla, Stephen Dunn, hasn't, Bonilla, they've, Louis Barajas, Limra, Barajas
Organizations:
New York Mets, Los Angeles Dodgers, Dodger, Getty, Major League Baseball, Mets, International Private Wealth, CNBC's, Finance, Social Security, ., Barajas, American Council of
Locations:
Irvine , California, Barajas