How Can Annuities Be Used For Retirement? 
That is an excellent question ! One of the biggest fears of retirement is running out of money . What happens if I live longer than my retirement fund will last ? This is a very real problem , as Americans are living longer , -LRB- On average , 15 years after retiring -RRB- on small retirement funds -LRB- average 3 years worth -RRB- . Social Security benefits are not enough , and long term health care costs evaporate what little funds there were very quickly . Annuities are a great way to provide a steady monthly income , or to help with long term care costs . Your annuity will pay out a steady payment to you , and many now have provisions for doubling or even tripling that payment for a period of time to help pay for those LTC costs . Annuities are not the best investment for everyone because of the way they are structured , so it is important that you discuss this with an advisor that you trust , okay ? Thanks for asking ! 