In the changing money world, the usual ways people get retirement cash, like pensions and plans with set benefits, are getting less common. But there’s another option: annuities. Annuities let you make your own personalized retirement plan, giving you a steady and predictable income to keep up the lifestyle you want in your later years.

Annuities come with several advantages, including a dependable income, protection from daily market ups and downs, and safeguards against living longer than your retirement savings. It’s crucial to be aware, like all investments, annuities have fees and rules, underscoring the importance of advice from a knowledgeable financial professional.