5. Consider buying an annuity that will offer you a monthly income
Annuities are meant to provide you with a monthly retirement income that will last for the rest of your life. These usually will protect you from investment losses that result from mistakes.
This will protect you by not allowing you to withdraw all of your money at once. Bear in mind that annuities can be confusing at times and they can be quite expensive. In order to make the best decision, purchase a cost-effective annuity or talk to a professional.
Make sure that the professional you’re working with is an honest and skilled one and has your best interest at heart.
