Money Matters: Annuity income — annuitization vs. lifetime withdrawal

If you are working, you’re probably used to one thing – getting a paycheck. For most, a steady income is something they have had most of their life. This stops once you retire. Social Security is often a partial replacement. It is steady, for sure, but usually not enough to replace your pre-retirement income needs. For some, a source for the difference is an annuity contract.