I thought I had saved enough money for retirement, and was not concerned about outliving my savings. However, after being retired for 5 years, I realized that I was going through my savings more quickly than I had anticipated. Because I didn't have any health issues, and was still as active as I was in my working years, I knew I needed additional income to ensure I would have enough money to cover my basic expenses for the rest of my lifetime.
I spoke with my financial advisor, who told me about Immediate Income Annuities. Not only could the income from the annuity last my lifetime, I could also start receiving payments in as little as 2 months.
After purchasing my annuity, I no longer have to worry about outliving my savings. The income from my annuity is guaranteed to last for the rest of my life, and is enough to cover my basic expenses. I now have the freedom to enjoy my retirement and spend my time focusing on more important things, like working on my backswing.