Retirement Income & Annuities
Income you can count on, with the tradeoffs said out loud.
Saving is one job. Turning savings into a paycheck that lasts is a different one. This is where annuities come up — and where we tell you what they don’t do, too.
What this is
An annuity is a contract, not a magic word.
A fixed or fixed-index annuity is a contract with an insurance company: you give them a lump sum, they give you a guaranteed rate or a guaranteed income for a set time — sometimes for life. The guarantee is only as good as the company behind it, the money is usually committed for a number of years, and the growth is capped in exchange for the floor.
For some people that trade is exactly right. For others it isn’t. We’ll compare it against a CD, a bond ladder, or leaving the money where it is — and show you the numbers side by side.
This is for you if
- You’re asking how to turn a lump sum into monthly income
- You’ve seen an annuity ad and want a straight answer on whether it fits
- You have CD money coming due and want to compare
- You want a floor under part of your retirement and are willing to trade some upside for it
What we’ll walk through
Fixed vs. fixed-index
One pays a set rate. The other tracks an index with a floor and a cap. Which fits depends on what the money is for.
The commitment
Surrender periods, free-withdrawal amounts, and what happens if life changes in year three.
Annuity vs. CD vs. leave it
Same dollars, three paths, real numbers. You pick.
Guide
Retirement income: how the pieces fit
Pensions, savings, Social Security, annuities — what each is for.
Today’s rates
Fixed annuity rates change often. Here’s where two common terms sit right now — and we’ll walk you through what they mean for your situation.
As of April 1, 2026. Rates move often — call 270.438.2611 for today’s.
Rates as of the date shown and subject to change without notice. Rates vary by insurance carrier, product, premium amount, and state, and the rate you receive is set by the contract you sign. A MYGA (multi-year guaranteed annuity) is a fixed annuity contract; its guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Surrender charges and holding periods apply. Annuities are not bank deposits and are not FDIC insured.
Questions people ask us
What actually backs an annuity?
It’s a contract backed by an insurance company’s ability to pay. That’s a real guarantee for fixed products, and it’s not the same as FDIC insurance. We’ll show you how to check the company’s strength.
What are the fees?
Fixed and fixed-index annuities usually don’t charge an annual fee, but surrender charges apply if you pull out early, and optional income riders can carry a cost. We put every one of those on the table before you decide.
How are you paid?
By the insurance company that issues the contract, as a commission. It doesn’t come out of your account balance, and we’ll tell you the amount if you ask.
Related
Retirement Planning
Start with the six questions.
Social Security
The timing decision.
401(k) Guidance & Rollovers
Moving the money first.
Someone in your corner.
A conversation costs nothing and commits you to nothing. Bring your statements, your questions, or just a hunch that something could be working better.
Or call 270.438.2611 — a person answers.
Annuities are insurance products. Any guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Product features, rates, and bonuses vary by product, state, and individual situation, and may change. Surrender charges and holding periods may apply. This is not a recommendation of any specific product.
This page is educational. It uses simplified examples and is not a recommendation for your specific situation. Numbers used in examples across the site are illustrations, not projections of what you’ll experience.
Lighting the way to a brighter financial future.
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Services
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164 Old Porter Pike
Bowling Green, KY 42103
270.438.2611
Fax 270.495.3888
Monday–Friday, 8:30–5:00
Studle Financial Services provides financial guidance and insurance products to families and businesses in Kentucky and Tennessee. Information on this website is for educational purposes and is not individualized advice. Your situation is unique — please talk with a licensed professional before making financial decisions.
Tax preparation and filing services are provided by Studle & Associates. Studle Foundation is the charitable arm of the Studle family of companies.
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