Learn · Retirement income
Retirement income, explained simply
Plain-English answers to the questions that decide whether your retirement income is safe — no jargon, no sales pitch, one honest number at the end.
What is a pension annuity? A plain-English guideA pension annuity (SPIA) turns part of your savings into a guaranteed monthly check for life. Here is how it works, in plain English.
What if you live to 95? The math of outliving your savingsOne in seven 65-year-olds will live past 95. Here is the honest math of making savings last that long — and what guarantees the check never stops.
Retiring into a crash: the risk you can't out-waitA market drop in your first retirement years does damage that later gains can't undo. Here's the mechanism — and the income that ignores the S&P.
The Social Security gap: $1,900 a month won't be enoughThe average Social Security check is about $1,900/month — most retirees need nearly double. How to build the second check that fills the gap, guaranteed.
The cash-refund guarantee: what happens to your money if you die earlyThe #1 fear about lifetime income: "what if I die in year two?" The cash-refund guarantee answers it — your heirs get back every unpaid dollar.
Good annuity, bad annuity: why one word covers opposite productsMost annuity horror stories are about high-fee indexed and variable products. The pension annuity (SPIA) is the opposite design: no fees, one guaranteed number.
How much monthly income does $250,000 buy?What a $250,000 pension annuity actually pays per month — how age, gender, and timing move the number, and why it beats the 4% rule for income.
Pension annuity vs CD vs bond ladder: which gives more income?CDs and bonds are safe, but they don't guarantee lifetime income. Here's how a pension annuity compares for retirees who need a reliable paycheck.
Joint-life annuities: income that protects your spouseA joint-life pension annuity keeps paying as long as either spouse lives. Here's how it works and how it protects the survivor's income.
When should you buy a pension annuity? Timing and ageBuy too early and you lock in low payouts; too late and you carry market risk longer. Here's how to think about the timing of a pension annuity.
How pension annuity income is taxed: the exclusion ratioWith after-tax money, only part of each annuity check is taxable. Here's how the exclusion ratio works and why it makes SPIA income tax-efficient.
How much do you actually need to retire?Forget the scary '$1 million' headlines. The real question is monthly income, not a lump sum. Here's how to size retirement around the check you need.
Immediate vs deferred: when should your income start?Start your annuity income now, or let it grow and start later? Here's the trade-off between an immediate and a deferred pension annuity, in plain terms.
Are annuities safe? How your money is actually protectedNot FDIC-insured, but not unprotected either. Here's how pension annuity guarantees are backed — carrier strength, state guaranty associations, and ratings.
Annuity vs keeping it in the bank: which is smarter?Cash in the bank feels safe, but it quietly loses to inflation and can still run out. Here's the honest comparison with guaranteed lifetime income.
Why higher interest rates are good news for annuity buyersAnnuity payouts move with interest rates. Here's why today's higher-rate environment means bigger guaranteed checks — and what that means for timing.
5 questions to ask before you buy a pension annuityA simple checklist to make a confident decision: how much to convert, single vs joint, payout options, carrier strength, and the tax treatment.
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