Fixed income annuities are a good investment for those looking for guaranteed lifetime income in retirement.
An income annuity is a lifetime income guarantee (typically paid monthly for the rest of your life) that you purchase from an insurance company as a way to reduce the risk that you run out of money in retirement. Fixed income annuities generally do not have any liquidity (access to funds outside of the monthly check), so are only appropriate for those who don’t need or desire access to all of their retirement funds in case of an emergency.
To see how much income is available to you based on your age, gender, and premium level, use the free fixed income annuity quote tool.
If you’re interested in reading more, here are several articles on fixed income annuities.
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An annuity is guaranteed lifetime income that reduces the likelihood that you’ll run out of money in retirement. Income from an annuity is predictable, steady, and cannot be outlived. This Annuities 101 article provides an overview of annuities and links to resources that will help you decide if an annuity is right for you.
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