After more than 30 years guiding clients at Neasham Insurance Agency, I’ve seen how annuities can be a valuable tool for retirement planning. Annuities are insurance contracts designed to provide guaranteed income, with options for immediate or deferred payouts. Depending on the type—fixed, variable, or indexed—your growth potential and risk exposure will vary. Fixed annuities guarantee a set return, variable annuities fluctuate with the market, and indexed annuities tie growth to a market index, offering a balance between security and potential. It’s important to remember that not every annuity suits every retiree; fees, surrender periods, and withdrawal penalties all play a role in what’s best for you. For those who prefer stability, annuities can help transform a portion of your savings into a reliable income stream, making retirement budgeting more predictable and easing concerns about outliving your assets. With options starting at $1,000 and extending up to age 85, it’s worth taking the time to match features and fees to your specific needs. My experience has shown that careful planning can make all the difference in building a retirement you can count on.
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