An income annuity can provide guaranteed income in retirement that you cannot outlive... rather like Social Security. Walter Updegrave writes, in New Rules for Retirement, about the decisions involved in whether to purchase an income annuity and, if so, cautions about purchasing. Updegrave provides guidance in answering these questions:
1. Do you really need more guaranteed income?
2. Do you need guaranteed income now?
3. What kind of annuity makes the most sense?