How to Compare Retirement Income Options Before Buying an Annuity in 2026

Retirement income planning involves converting savings into reliable payments, balancing immediate needs with future security. Comparing annuity options requires evaluating payment timing, payout types (single-life, joint-life, lifetime, period-certain), inflation protection, fees, liquidity, and insurer strength. Essential expenses should be covered by guaranteed income, while flexibility is needed for taxes, emergencies, and changing priorities. Document and compare multiple quotes carefully before deciding.