Income You Can't Outlive
A fixed annuity can turn a portion of your retirement savings into a guaranteed income stream — steady, predictable payments that continue no matter how long you live.
The Fear Most Retirees Share — and One Way to Address It
Social Security helps. Savings help. But neither comes with a guarantee that the money will last as long as you do. That uncertainty is one of the most common concerns I hear from people approaching retirement.
An annuity is a contract between you and an insurance company. You contribute a lump sum, and in return the company agrees to pay you a set income — either immediately or at a future date you choose. Certain annuity structures are designed specifically to provide lifetime income, which means payments continue for as long as you live, regardless of what the market does or how long that turns out to be.
This page is an introduction to how annuities work and whether one might fit your retirement picture. Because annuities vary widely in structure, cost, and suitability, I don't recommend one without a conversation first.
Fixed Annuities vs. Other Types: A Plain-Language Overview
Not all annuities work the same way. Here's a straightforward look at the main categories:
Fixed Annuities
You receive a guaranteed interest rate for a set period. Your principal is protected, your growth is predictable, and your income payments don't change based on market performance. For retirees who want stability and don't want to gamble their savings on market swings, a fixed annuity is often the starting point for this conversation.
Fixed Indexed Annuities
Your account has the potential to earn interest linked to a market index — like the S&P 500 — but with a floor that prevents losses when the market drops. Growth potential is higher than a standard fixed annuity, but it comes with more complexity in the contract terms.
Variable Annuities
Returns are tied directly to investment subaccounts, which means both gains and losses are possible. These carry more risk and cost, and they are generally not the right fit for retirees whose primary concern is income security.
What Guaranteed Retirement Income Actually Means
"Guaranteed" is a word that gets used loosely in financial conversations. In the context of a fixed annuity, it has a specific meaning: the insurance company is contractually obligated to make your payments for the term you've agreed to — including, with certain riders, for the rest of your life.
Payments begin on a schedule you choose — immediately or deferred to a future date
The amount you receive does not fluctuate with interest rates or market conditions
Tax-deferred growth means you don't pay taxes on earnings until you begin receiving income
A lifetime income rider can extend payments for as long as you live, even if your account value is depleted
Annuities are not the right tool for every dollar in retirement. They work best as one component of a broader income plan — a floor of predictable income alongside Social Security, savings, and any other retirement assets you have.
Why I Added Annuities to What I Offer
My focus has always been on helping people navigate Medicare and the coverage decisions that come with turning 65 or leaving employer health insurance. Annuities are a natural extension of that work.
The same clients asking me about Medicare are often asking how to make their savings last. I'm not a financial planner, and I don't position myself as one. What I can do is explain how fixed annuities work in plain language, help you think through whether one fits your goals, and connect you with a product from a reputable carrier if it makes sense.
If it doesn't fit, I'll tell you that too.
Annuities and Your Retirement Transition
If you're already thinking about Medicare, you're likely in the same window when retirement income planning matters most. The two conversations often belong together.
Visitors exploring the turning 65 page or the losing employer coverage page will find that the Medicare decision and the income-planning decision tend to arrive at the same time. I'm set up to help with both, and I can refer you to the right resources for anything outside my scope.
Common Questions About Annuities
Is an annuity the same as a Medicare plan?
No. Annuities are insurance contracts designed to provide retirement income — they are not Medicare products and are not regulated by CMS. Medicare covers your health care costs in retirement. An annuity addresses income replacement. The two serve different purposes and are purchased separately.
What happens to my money if I die before receiving all my payments?
That depends on the contract structure. Many annuities include a death benefit provision that passes remaining value to a named beneficiary. Some income riders are structured as joint-life, meaning payments continue to a surviving spouse. I review these terms with you before recommending any product.
Are annuities safe?
Fixed annuities are backed by the financial strength of the issuing insurance company and are regulated at the state level. They are not FDIC-insured like a bank account, but they are not market investments either — your principal and credited interest are contractually protected. As with any financial product, the quality of the carrier matters, and I only work with carriers I'm confident in.
How much does it cost to work with you on this?
There is no cost to you. I'm compensated by the carrier if a product is placed, and that compensation does not affect the premium you pay. My role is to help you understand your options and recommend something only if it genuinely fits your situation.
I've heard annuities have high fees and surrender charges. Is that true?
Some annuities do carry surrender charges — penalties for withdrawing funds early, typically during the first several years of the contract. Fixed annuities generally have lower internal costs than variable products. I walk through every fee and surrender schedule with you before any decision is made, so there are no surprises.
Ready to Talk Retirement Income?
If you're wondering whether a fixed annuity belongs in your retirement plan, a short conversation is the right next step. I'll ask about your income sources, your goals, and your timeline — and give you a straight answer about whether this is worth exploring further.