Capital

There are some basic financial planning steps you can take on your own, and they do not require financial planning software or the input of a financial professional. 

Annuities are neither useful nor appropriate for many people.

As emphasized throughout this buying guide, a good financial plan that focuses on retirement income needs should be the foundation of any annuity purchase decision.

A handful of very large, powerful trends are currently shaping the retirement income landscape:

An annuity is a financial product that converts accumulated savings into guaranteed income.  In a very basic sense, annuities:

• Turn a sum of money into a series of payments or a “stream of income.” 
• Guarantee the stream of income over a specific timeframe.