There are lots of ways to maintain your lifestyle later on in life. A guaranteed income annuity is one good way to do it. Most people think of an annuity as a pension-like stream of income. When you have one, you basically get a steady “paycheck” for the rest of your life—so you can worry less about managing your money and focus more on living your life.
Income now or later? It’s entirely up to you.
You can choose a guaranteed income solution that starts paying out immediately, or one that pays you later on.
If you have money from the sale of a home or an investment account, transferring that money into an immediate annuity will turn it into income you can start receiving right away.
For many of our clients, it pays to plan ahead. And buying a guaranteed income annuity before you actually need income is a smart move. If you can afford to wait, deferring your payments will give you higher payouts later on.