It’s hard to avoid advertisements that knock annuities. In fact, once you start doing online research about retirement, the warnings and diatribes will follow you to your inbox.

Every time I see one of these, I think of the quote from Albert Einstein: “If at first the idea is not absurd, then there is no hope for it.” Or to put it another way, the stages of reaction to an idea follow the predictable pattern of reject, resist, embrace and, finally, self-evident.

Power behind Income PowerHaving spent my career in the insurance, annuity and retirement industries, I know that certain annuities are overly complex. On the other hand, some are elegantly straightforward in their purpose and design. So, it’s just wrong to dismiss a category like annuities without investigating and understanding all the products or services within that category.

Product, planning tool or a powerful idea?

Here’s a question virtually every retiree or near-retiree asks themselves or their advisors:

How much retirement income can my retirement savings generate?

The answer from most advisors is “It depends.” It depends on how long you (and your spouse) live. Depends on returns in the stock market and on future interest rates. It even depends on changes in government rules.

What if you could measure your “it depends” retirement plan to see how much risk-free income you’ll actually have, like when advisors compare your investment opportunities to a risk-free return?

That’s what interests me about an annuity called a “deferred income annuity.” (It’s also called a “QLAC” when it’s purchased with a rollover IRA or a 401(k) fund). Here’s my definition:

An annuity contract issued by one of several highly-rated life insurance companies that provides guaranteed lifetime income starting at a date in the future that you select.

Deferred income annuities are a product that you can purchase to provide income for retirement, similar to a pension plan or Social Security.

They are a planning tool that allows you to plan your retirement with certainty.

And these deferred income annuities are a powerful idea. They provide a benchmark against which you can compare other options for your retirement plan.

Together, they are the power behind Income Power.

Unlock the power behind Income Power

How do you take advantage of the unique benefits of these deferred income annuities?

My retirement calculator, Income Power, will help you unlock the possibilities.

Visit Go2Income.com/IncomePower, fill in a few questions about your age at retirement, amount of your savings, and whether you will be supporting a spouse or other heirs, and then find out how much income your savings will generate for life — guaranteed. In just a few minutes, you will get a good idea about your own Income Power.

What makes Income Power possible is a marketplace of highly-rated insurance companies that will sell you guaranteed lifetime income via a deferred income annuity starting at a future date you select.

Enter your numbers into Income Power and discover your risk-free lifetime income.

Questions? Contact me here. I’d be happy to talk with you.