Never Outlive Your Money.
Guaranteed.
A fixed annuity can close your income gap permanently — turning a lump sum into a paycheck you cannot outlive. Janine shows you the numbers before you decide anything.
✦ Fixed Annuity Specialist
Key Numbers
What a fixed annuity is — and isn't
An annuity is a contract between you and an insurance company. You make a lump-sum payment (or a series of payments), and in return the insurance company provides guaranteed income — either immediately or at a future date you choose.
For retirement planning, the primary use case is simple: you have a gap between what Social Security and pensions provide and what you actually need to live. A fixed annuity with a guaranteed lifetime withdrawal benefit (GLWB) can close that gap permanently — regardless of how long you live or what the stock market does.
Annuities are not right for everyone. They are illiquid during the surrender period. They are appropriate when you have a specific, identified income gap that needs to be closed permanently and you have funds you don't need immediate access to. Janine will tell you honestly whether an annuity fits your situation — and show you the alternatives.
Fixed Annuity
Guaranteed interest rate + guaranteed income
Your principal earns a fixed rate set by the insurance company. At income time, you receive guaranteed payments. No market risk to principal. Best for closing a specific income gap with money you won't need for 5+ years.
Fixed Indexed Annuity (FIA)
Linked to an index — with a floor at zero
Interest is linked to a market index (like the S&P 500) with a cap on gains and a floor at zero — you can never lose principal due to market loss. Often includes an income rider. Moderate growth potential with downside protection.
Income Rider (GLWB)
Guaranteed Lifetime Withdrawal Benefit
An optional rider on many annuities that guarantees you can withdraw a specific percentage of a benefit base for life — even if the account value drops to zero. This is the mechanism that creates a pension-like income stream.
Closing the $1,160 monthly income gap
Example — Metro Detroit Retiree
The income gap calculation
Monthly income needed: $3,200
Social Security (optimized): $1,640
Pension (UAW, retired): $400
Gap: $1,160/month = $13,920/year
A single-premium fixed annuity of approximately $180,000–$220,000 (depending on age and carrier) with a GLWB rider can close this gap permanently — for life — with guaranteed payments that never stop, regardless of how long you live.
Important Context
Annuities are not a replacement for all savings
Annuities are one tool for one purpose — guaranteed income. Janine always recommends maintaining liquid savings alongside any annuity. The goal is to use the right tool for each job: annuities for guaranteed income, liquid savings for emergencies and discretionary spending.
Annuity vs. Bond Ladder vs. Draw-Down
Why annuities solve a specific problem better
A bond ladder or portfolio draw-down can provide income, but both carry longevity risk — the risk of outliving your money. An annuity with a GLWB eliminates longevity risk entirely. The insurance company bears that risk, not you.
Surrender Charges — What to Know
Annuities are a long-term commitment
Most annuities have a surrender charge period of 5–10 years. Withdrawing more than the free withdrawal amount (typically 10%/year) during this period triggers a charge. Janine never recommends an annuity with more money than you can afford to leave in place for the surrender period.
State Guarantee Fund
Michigan guarantees up to $250,000 per company
Michigan's Life and Health Insurance Guaranty Association covers annuity benefits up to $250,000 per insurance company if the insurer becomes insolvent. Janine always recommends highly-rated carriers to minimize this risk further.
Annuity questions Janine hears most often
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No pressure. No sales pitch. Just a comprehensive conversation about where you stand — and what it would take to retire with zero gaps.