Annuities Can Guarantee Income for Life

In the US, a recent survey found ~half of non-retirees doubted they would fully retire, while ~two-thirds prioritized current finances over future planning.
One major pre-retirement fear was outliving savings, and annuities were presented as one strategy for creating guaranteed lifetime income when saving more feels difficult.
Annuities are insurance contracts that can start paying immediately or later, and their structure determines both when income begins and how money grows.
The main choices were fixed annuities with guaranteed flat returns, variable annuities tied to securities, and indexed annuities linked to market indexes.
They may suit risk-averse savers who value predictable income, but some contracts carry high fees or limited growth, so working with an advisor can help.