An annuity with guaranteed lifetime income can provide you with benefits that may not be found in other retirement savings products.
A guaranteed lifetime income annuity offers the following benefits:
- Additional security during retirement. An annuity with lifetime income provides you with a reliable, predictable stream of income for the rest of your life, reducing concerns you might have about outliving your income in retirement.
- Dependable supplemental income. You can choose monthly or annual payments that are guaranteed for your lifetime. You also have the option to guarantee that income for a specific period for your beneficiaries.
- Protection against inflation. You can protect yourself against inflation with an optional cost-of-living adjustment feature. Learn more about inflation protection with an annuity.
- Portfolio diversification. By putting some of your retirement assets in an annuity, you are diversifying the sources of retirement income that you have. Learn more about how an annuity can strengthen your portfolio for retirement.
The benefits of guaranteed income with an annuity are most applicable if:
- You are in your 50s, 60s, or 70s and nearing, or already in, retirement.
- You may have a large lump sum to invest.
- You need income right away, or you’re looking to ensure you have consistent, reliable income during retirement.
- You want to diversify your retirement income portfolio.
You should consult your financial advisor about your particular situation. To learn more about guaranteed lifetime income, see our guaranteed lifetime income questions page.
Is an annuity right for you? (Flash)† Try our tool to find out, or contact a Wells Fargo retirement professional for help deciding.
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