Nearly 50% of seniors rely heavily on Social Security for income, with the average benefit at $2,008. Many retirees are interested in supplementing their benefits with a guaranteed income source like an annuity. An annuity offers tax benefits, lifetime income, and a death benefit for loved ones, providing a secure financial option.

As employer-provided pensions decline, it’s crucial to have a plan beyond Social Security for retirement income. Options like 401(k)s or IRAs offer tax advantages, but don’t guarantee income. Target-date funds provide simplicity for managing investments, while annuities offer a reliable income source with tax benefits and lifetime income guarantees.

Retirement isn’t just about picking the best investments; it’s about securing reliable income. By answering three quick questions, many Americans are realizing they can retire earlier than expected. Consider exploring options like annuities to supplement Social Security benefits for a more financially secure retirement.

Read more at Yahoo Finance: This Risk-Free Option Could Be Perfect for Supplementing Your Social Security