What investment would be the most logical choice for Ben Parsons considering his financial needs?

A single-premium deferred annuity is a sound choice for Ben Parsons, particularly if he is looking for a way to secure his financial future and create a steady income stream. This type of annuity allows an individual to make a lump-sum payment upfront, after which the investment grows tax-deferred until payments begin, usually during retirement.

This option is particularly beneficial for risk-averse investors like Ben, as it provides a guaranteed return and mitigates the volatility often associated with stock market investments. Additionally, the deferred annuity can be structured to provide lifetime income, which offers financial security for retirement years. It also allows Ben to benefit from tax advantages, as taxes on earnings are delayed until withdrawals are made.

The other investment options, while they may have their own merits, do not align as well with the need for stability and income certainty that a deferred annuity provides. High-yield savings accounts typically offer lower returns and less favorable growth in the long term. Stock market investments carry inherent risks with market fluctuations, which may not suit Ben's financial strategy if he prefers to avoid unpredictable returns. Real estate requires active management and presents various risks and illiquidity issues that may not align with his needs for stability and ease of income generation. Thus