Social Security provides about 40% of pre-retirement wages. Annuities offer similar guaranteed lifetime income but require upfront payment. Combining both can enhance retirement security. Social Security alone won’t cover all expenses in retirement. Average benefit is around $2,000 per month. An annuity can bridge the income gap and provide lifelong payments. Annuities guarantee income for life, unlike retirement savings. They offer flexibility and financial security when paired with Social Security. Retirement isn’t just about investments, annuities can offer stability. Answering three questions can help retirees realize they can retire earlier than expected. Consider looking into annuities as a financial tool for retirement security.

Read more at Yahoo Finance: Annuities Can Mix With Social Security To Create Reliable Cash Flow for Your Retirement