Who is a good candidate for buying an annuity?

Annuities are a great choice if you wish to prolong your retirement savings even further, or turn into a guaranteed life-long income. Most other retirement accounts could be depleted during later years. Individuals in their 50s and 60s looking to save additional tax-deferred money for retirement can also benefit from annuities. If you look for moderate growth, guarantee features, or principal protection, annuities can be a great fit. You may also leverage the 'Joint-Life' feature with your spouse's retirement savings, and ensure an income stream covering your lifetime.