Annuities in Retirement: Evaluating Their Purpose in Income Planning

For many individuals approaching or living in retirement, reliable income becomes a top priority. While savings and investments provide flexibility, not all sources of retirement income are predictable. That’s why some retirees consider including annuities in retirement income planning. These insurance-based products can offer structured payments that supplement other income sources like Social Security and investment withdrawals.  Understanding how annuities work—and when they may or may not fit into your overall strategy—can help you make informed decisions based on your needs and preferences.