By espies / Shutterstock.com

Finding and purchasing the right annuity — especially one with built-in inflation protection — can be a difficult and expensive chore. But if you are smart and flexible, virtually any American retiree can grab such an annuity on the cheap. By waiting until age 70 to claim Social Security, you can create an annuity that will pay out the maximum monthly income for which you are eligible. Even better…

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