An annuity is a financial product that provides a steady stream of income, typically during retirement. By investing a lump sum or making periodic payments, you receive regular disbursements for a specified period or for the rest of your life. Annuities come in various forms, including fixed, myga, and immediate, each offering different benefits. Fixed annuities provide guaranteed payments and stable income. Immediate annuities start payments soon after a lump sum is invested.  A Multi-Year Guaranteed Annuity (MYGA) is a type of fixed annuity that offers a guaranteed interest rate for a set period, typically ranging from 3 to 10 years. During this period, your principal and interest grow at a fixed rate, providing predictable and stable returns. provide peace of mind in retirement. Unlike Certificates of Deposit (CDs) or Roth IRAs, annuities offer predictable, consistent payouts, which can be beneficial for managing retirement cash flow. While CDs offer a fixed interest rate and Roth IRAs provide tax-free withdrawals, they don’t guarantee income for life. Annuities also offer customization options, such as inflation protection and survivor benefits, which can enhance financial security. For those seeking reliable income and longevity protection, annuities can be a better choice compared to CDs or Roth IRAs.