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Income annuities increase income while reducing stress for retirees

“Incorporating an income annuity into a retirement portfolio increases income, cuts retirement stress and boosts retirees’ confidence, according to a study by researchers Michael Finke and Wade Pfau from The American College. Income annuities lower the risk of outliving savings in retirement without lowering overall income, compared with an investment-only approach, the study found.” Retirement Security SmartBrief, April 24, 2019.
“new research including 10,000 simulations show income annuities really do improve retirement outcomes compared to investments alone.”
This is according a study commissioned by Principal Financial Group and conducted by Michael Finke, Ph.D., CFP, and Wade Pfau, Ph.D., CFP, nationally renowned researchers from The American College (who are not affiliated with Principal). Check out: https://401kspecialistmag.com/study-by-finke-pfau-shows-annuities-improve-retirement-outcomes/
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Source: Financial Planning for Women