Retirement Income
Ways to turn what you have saved into steady retirement income, explained plainly so you understand how each option works and what it costs before you decide anything.
A few numbers worth knowing
- 1 in 3
- of today's 65-year-olds may live to at least 90, so a plan has to last longer than most people assume
- About 40%
- of a typical earner's pay is replaced by Social Security
- 77% more
- per month from claiming Social Security at 70 instead of 62, with a full retirement age of 67
- 14%
- of private-sector workers have access to a traditional pension
Sources: Social Security Administration, Retirement Information for Medicare Beneficiaries and Retirement Ready fact sheet; SSA rules for early and delayed retirement (70% of the full benefit at 62, 124% at 70); U.S. Bureau of Labor Statistics, Employee Benefits in the United States, March 2025. Rules and population figures, not projections for any one person.
Making savings last
Most people spend their working lives building a balance. Retirement asks a different question: how does that balance become a paycheck that lasts as long as you do?
That question has more than one answer, and the right one depends on what you have, when you plan to stop working, and how much market movement you are comfortable living with.
Before you decide on anything, you will see the trade in plain terms: what the product gives you, what it costs you, and what you give up to get it. If the math does not work in your favor, we will say so.
What we look at together
- Protected income options, including fixed indexed annuities with income riders (the free annuities guide explains the trade-offs)
- Social Security timing: when to claim, and how that choice interacts with the rest of your plan
- Roth conversion strategy and the tax picture in retirement
- Sequence-of-returns risk: why the order of market years matters more once you are drawing income
How the conversation goes
There is no cost to sit down and no obligation afterward. We start with what you already have, walk through where the gaps are, including long-term care and what happens to your estate, and only then talk about whether any product makes sense for you. If nothing does, that is a perfectly good outcome.
Read first, if you would rather
If you are not ready for a conversation, The Complete Guide to Annuities covers the types, the trade-offs, and the questions to ask, in plain language. It is free and sent by email.
Michelle Rocchio is a licensed insurance and annuity professional. The information on this page is educational and is not legal, tax, or investment advice. Product guarantees, where they exist, are backed by the issuing insurance company and are not insured or backed by any government agency.
Plain answers
Questions about retirement income
Short, honest answers with no product talk. If yours is not here, just ask.
What is protected retirement income?
Income that does not depend on how the market performs in a given year. Some insurance products, such as fixed indexed annuities with income riders, are built to pay a steady amount for life. Whether one fits you depends on what you already have, and that is the first thing we look at.
When should I claim Social Security?
It depends on your health, whether you are still working, and what other income you have. Claiming at 70 instead of 62 raises the monthly benefit substantially, but waiting only makes sense if you can cover the years in between. We walk through the timing with your actual numbers.
Can you review an annuity I already own?
Yes. Bring the contract or the latest statement. We go through what it pays, what it costs, and what happens to it when you die, in plain language, so you know what you have before deciding whether to change anything.
Is the first meeting really free?
Yes. There is no charge and no obligation. We look at what you have, talk about where the gaps are, and you decide whether to go further.
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