Annuities provide guaranteed lifetime income, but come with high fees and surrender charges. Fixed annuities offer predictable payments but may not keep pace with inflation. Understanding the pros and cons of annuities is crucial before purchasing one.

Your Social Security filing age determines monthly payments for life. Consider the risk of market slumps affecting retirement savings. An annuity provides an alternative for guaranteed lifetime income, but weigh its benefits and drawbacks carefully.

An annuity offers steady retirement income, but setting one up incurs costly fees. Ongoing fees, confusing contracts, and surrender charges are cons. An annuity can be a supplement to Social Security, but ensure you fully comprehend the terms before investing.

Retirement planning isn’t just about investments; it’s about distribution. Answering key questions can lead to earlier retirement. Consider delaying Social Security to maximize benefits and reduce pressure on savings. Reworking portfolios can lead to unexpected early retirement opportunities.

Read more at Yahoo Finance: Is Social Security The Only Possible Source of Guaranteed Income as a Retiree?