If you are looking for guaranteed lifetime income, you have probably been told to look into a SPIA (Single Premium Immediate Annuity). But is it actually your best option? In this video, Shawn Plummer from The Annuity Expert breaks down exactly why you should avoid SPIAs for retirement income.

Shawn explains the massive danger of "irrevocable" annuity contracts—meaning you lose total control of your lump sum the second you sign. He covers the poor death benefit options, the lack of interest-earning potential, and the one rare, niche scenario where a SPIA actually makes sense (if you are under 59 ½).

More importantly, you will learn about the superior modern alternative: The Guaranteed Lifetime Withdrawal Benefit (GLWB). Discover how adding a Lifetime Income Rider to a fixed or fixed index annuity gives you higher payouts, better infla ...