When planning for retirement, it’s essential to compare different income strategies to find the best fit for your needs. For Virginians, annuities offer guaranteed income, tax-deferred growth, and protection against longevity risk, which can complement other retirement income sources like Social Security, pensions, and investment portfolios. Comparing Annuities With Other Strategies Annuities vs. Social Security: Guaranteed Income: Both offer guaranteed income, but annuities can provide additional income tailored to your specific needs and risk tolerance. Annuities vs. Pensions: Flexibility: While pensions offer a fixed income, annuities can be customized with options like joint life payouts or inflation adjustments, making them more flexible. Annuities vs. Investment Portfolios: Risk Management: Annuities provide a safer, predictable income stream, unlike investment portfolios, which are subject to market volatility. Considerations
