When an annuity may help
You have a defined income objective, adequate accessible reserves, a suitable time horizon, and a reason to value a contractual income feature. The exact contract must address that objective without compromising other needs.
Retirement income / Insurance-based guidance
You know what you have saved.
What does it need to pay you?
Start with monthly spending, dependable income, and the cash you cannot afford to tie up. Then explore whether an annuity has a role.
Start My Retirement Income ReviewThis starts a conversation, not enrollment or a completed plan.
HEALTH & WEALTHA guide to work with
Retirement Paycheck Worksheet
01Monthly income02Monthly spending03Your questions
Open the web guideWeb guide + printable worksheetMake the question concrete.
Illustrative monthly example
$5,500Spending
−$3,800Existing spendable income
=$1,700A gap to explore
This example uses after-tax amounts. A gap is a question to work through, not an instruction to buy an annuity for that amount. Taxes, inflation and changing expenses need further review.
What does your monthly picture look like?
Use money available to spend after taxes, not account balances. Keep the same basis on both sides.
Divide annual expenses by 12. Do not count Medicare premiums twice if they are already deducted from the income you enter. Inputs stay in this page’s memory. Clear or reload to remove them.
This is budget arithmetic, not a retirement plan, an annuity quote or a recommended premium. Review taxes, inflation, emergency reserves, changing expenses and survivor income separately.
Useful in the right situation.
Not the answer to every situation.
When an annuity may not fit
You will need the money soon, have insufficient emergency reserves, do not need the particular guarantee, or are unwilling to accept the costs and restrictions. Keeping flexibility may be more important than adding a contract.
Retirement-income discussions concern insurance-based strategies, not investment management, securities, legal or tax advice. Annuities have costs and restrictions. Guarantees depend on the issuing insurer’s financial strength and claims-paying ability.
Read past the headline number.
What is guaranteed?
Separate guaranteed contract values from non-guaranteed illustrations. A guaranteed payment is not guaranteed purchasing power. Benefits depend on contract conditions and the issuing insurer’s claims-paying ability.
Official source: www.investor.govAccount value, surrender value and income base
An income-benefit base used by a rider is a calculation value, not a cash balance you can withdraw. Account value and what you receive on surrender can differ because of charges and adjustments. Ask to see each value separately.
Insurer’s explanation of terms, not a product recommendation: www.nationwide.comInterest, payout and roll-up are different
Credited interest affects the contract under its crediting rules. An income payout percentage helps calculate payments and may include return of principal. A rider roll-up changes a benefit base under its formula. They are not interchangeable investment returns.
Insurer’s explanation of terms, not a product recommendation: www.nationwide.comAccess, surrender charges and market-value adjustments
Some withdrawals or early surrender can trigger charges and a positive or negative market-value adjustment. Review the actual schedule, available withdrawals and exceptions. A rider can carry an additional cost; excess withdrawals can reduce benefits.
Official source: www.insurancecompact.orgFixed and indexed are not the same as owning stocks
A fixed annuity credits interest under its contract. A fixed indexed annuity uses a formula linked to an index, with limits such as caps or participation rates. It is not direct ownership of the index. This site does not offer variable annuities, RILAs or securities advice.
Official source: www.investor.govInflation, longevity and a surviving spouse
Ask how payments respond to rising expenses, how long they continue, and what changes after either spouse dies. Payment options, beneficiary features and access to cash can trade off against one another.
Official source: www.investor.govQuestions worth asking.
Does a budget gap mean I need an annuity?
No. The tool subtracts the numbers you enter. It does not evaluate your assets, risks, tax situation or available alternatives. An insurance product is considered only after a separate licensed review.
Can an annuity payment lose purchasing power?
Yes. A level payment buys less when prices rise. Inflation features and other contract options have tradeoffs; review what is and is not guaranteed.
Is this investment or tax planning?
Retirement-income discussions concern insurance-based strategies, not investment management, securities, legal or tax advice. Annuities have costs and restrictions. Guarantees depend on the issuing insurer’s financial strength and claims-paying ability.
Let’s put your income questions in order.
A separate conversation about the income you need, the cash you must keep available, and whether an insurance-based strategy belongs in the discussion.
This starts a conversation, not enrollment or a completed plan.
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Educational content reviewed September 26, 2026. Verify current rules and your circumstances.