Lifetime income
Learn how an immediate or deferred income annuity can convert a premium into contractually defined payments for one life or two.
Explore lifetime income
Retirement decisions deserve clarity
Understand annuities before you decide.
Next Gen Retirement Initiative helps retirees and pre-retirees learn how lifetime income and fixed annuities work, what their guarantees cover, and which questions to ask before signing a contract.
Education with a path to personalized guidance. We provide educational resources to help retirees and pre-retirees understand annuity benefits, limitations, guarantees, costs, and liquidity considerations. When requested, we may connect visitors with licensed professionals who have experience with annuities. There is no obligation to work with anyone we refer.
Plain-language learningDefinitions, examples, and questions without unnecessary jargon.
Guarantees explainedWhat is guaranteed, what is not, and who stands behind the promise.
Built for informed choiceBalanced benefits, limitations, costs, and liquidity considerations.
Our mission
Financial literacy for the retirement years
A non-profit organization dedicated to helping retirees and pre-retirees make informed financial decisions through education about annuities.
Learn about our approachRetirement income decisions often combine unfamiliar insurance terms, tax rules, surrender periods, and promises that can last for decades. A clear explanation can help a person slow down, compare contract language, and decide whether an annuity fits a broader retirement plan.
Our education focuses on the questions that matter: How does the contract earn interest? When can money be withdrawn? What happens when a guarantee period ends? How is lifetime income calculated? What choices affect a spouse or beneficiary? What risks remain even when a benefit is guaranteed?
A useful starting point: the word guaranteed does not mean every feature is guaranteed. Identify the exact rate, payment, period, conditions, and insurer obligation written in the contract.
Choose a learning path
Three ways annuities may be used in retirement
Each path solves a different problem. Start with the question you are trying to answer, not with a product name.
Fixed-rate accumulation
See how fixed deferred annuities credit interest, how guarantee periods work, and why surrender terms matter.
Understand fixed annuitiesShort vs. long terms
Compare the tradeoff between earlier flexibility and a longer stated guarantee period without chasing a headline rate.
Compare guarantee terms
What a guarantee means
Read the promise precisely
Fixed deferred annuities generally promise a minimum interest rate. Some contracts state a higher rate for a defined number of years. Fixed income annuities promise the payment described in the contract rather than a separately visible interest rate.
Important: all guarantees depend on the issuing insurance company's claims-paying ability and contract terms. They are not federal deposit insurance.
A balanced view
Use all 15 decision questions
Benefits belong beside tradeoffs
Potential benefits
- Predictable interest crediting under a fixed contract.
- Optional income that can continue for life.
- Tax deferral while earnings remain in a nonqualified contract.
- Less direct exposure to daily market price changes.
Questions and tradeoffs
- Surrender charges or market value adjustments may limit access.
- Fixed payments may lose purchasing power to inflation.
- Income options can reduce liquidity or legacy value.
- Contract details and insurer strength require review.
Free educational programs
Learning that meets people where they are
Use the website at your own pace or bring a plain-language program to a library, community group, or retirement event.
View programsLearn the vocabulary
Understand premium, accumulation, annuitization, surrender period, market value adjustment, and claims-paying ability.
Identify the goal
Separate the need for future access, fixed accumulation, or lifetime income before comparing contracts.
Verify the contract
Confirm every rate, date, charge, option, and guarantee in the insurer's disclosure and contract.
Practical next steps
Use a tool, then write down your questions
Educational worksheets can organize a conversation without replacing individualized advice.
Guaranteed growth estimator
Illustrate how annual compounding changes a starting amount over a selected term.
Try the estimatorMonthly income gap worksheet
Compare essential monthly expenses with Social Security, pension, and other reliable income.
Estimate an income gapPrintable decision checklist
Take a structured list of questions to an insurance producer, financial professional, or family meeting.
Open the checklistBring clear annuity education to your community
Request a no-sales educational workshop or send us a question about a concept on this site.