Here’s a link to a thoughtful piece from the Society of Actuaries helping all of us think through a major decision: when to retire.
The examples in the article include illustrations of the use of an immediate annuity (one that pays you monthly income at retirement age) to generate retirement income. That may or may not make sense for your situation, but that’s all a part of answering the “when-to-retire” question. Maximizing your retirement readiness means thinking through many possible scenarios.
Do you think you’ll use immediate annuities when you retire? Why or why not??