Truth 1. The history of annuities
"I advise you to go on living solely to enrage those who are paying your annuities. It is the only pleasure I have left."
—Voltaire
Annuities have had a rich and colorful history. The early Romans, inventors of such innovations as the public bath, the iron padlock, and the calendar, also developed the first annuities. In fact, the term "annuities" may have come from the Latin term "annua," which means "annual stipend." In ancient Rome, people would make a single payment in return for annual lifetime payments. Even then, retirement planning was a concern. Roman jurist Domitius Ulpianus developed the first known mortality table used for annuity purposes. Although he had little in the way of data, his actuary tables ...
Get The Truth About Personal Finance (Collection) now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
