A Change in My Retirement Path

I thought I had saved enough money for retirement, and was not concerned about outliving my savings. However, after being retired for 5 years, I realized that I was going through my savings more quickly than I had anticipated. Because I didn't have any health issues, and was still as active as I was in my working years, I knew I needed additional income to ensure I would have enough money to cover my basic expenses for the rest of my lifetime.

I spoke with my financial advisor, who told me about Immediate Income Annuities. Not only could the income from the annuity last my lifetime, I could also start receiving payments in as little as 2 months.