Income wise, what’s guaranteed and what’s not guaranteed?

The whole point of buying an annuity is because it's a guaranteed income stream, it can provide guaranteed income. So, what's guaranteed and what's not guaranteed, income wise, when you retire?

Let's break it down.

Number one, your social security income is guaranteed for life, forever, no matter what they try and scare you with on the news. It's not going away. So that's guaranteed income when you retire.

Number two, your pension. If you're lucky enough to have a pension at your work, you will get the guaranteed income for the rest of your life, assuming you choose that option.

Number three, annuities are guaranteed income for life, the same as the other two.

But guess what income is NOT guaranteed?

Your 401(k), your 403(b), your TSP, CD’s, Bank money, your IRA in a brokerage account.

These investment vehicles are not guaranteed because they don't have a guaranteed income stream.

So, your pension, your social security and your annuity will guarantee you income. These other investment vehicles just don't. It’s that simple.

*Blog Disclosure: It's not the purpose of this blog post to provide tax, legal and/or financial advice and you should always seek counsel from your CPA, attorney, and/or advisors as these topics relate to your specific needs. This information is being presented in a very general way and it's for illustrative purposes only.