Guaranteed income for life – annuity retirement! Retirement planning for seniors with annuity options is like creating your own personal pension plan by purchasing an annuity. Annuities are insurance contracts that provide a guaranteed stream of income for a set period or for life. Think of it as buying financial security and predictable income in retirement. The twist? Annuities can provide peace of mind with guaranteed income, but they also have costs and limitations to consider. Actionable Tip: Research annuities and guaranteed income options. Understanding different retirement income strategies is crucial for your future financial planning.