Can You Take Monthly Income From a MYGA?

Are you planning to live off the monthly interest generated by your MYGA? While it sounds like a safe and steady retirement plan, you might be setting yourself up for a massive pay cut in the near future!

In this video, Shawn Plummer from The Annuity Expert answers whether you can take monthly income from a MYGA (Multi-Year Guaranteed Annuity). While Shawn explains exactly how to set up automated "systematic withdrawals" if your contract allows it, he also issues a massive warning: living off MYGA interest right now is a terrible retirement strategy!

Because we are currently (in 2026) sitting at the highest interest rate levels since the 1990s, your MYGA is paying a premium. But what happens in 3 or 5 years when your term ends and rates have dropped back down? Shawn breaks down the "Renewal Trap" and explains why purchasing an annuity with a Guaranteed Lifetime Income Rider is a mathematically superior way to lock in today's high rates for the rest of your life! He also shares a brilliant hack using cheap life insurance to protect your principal for your heirs.

📊 Compare today's absolute highest MYGA rates across the country here:

https://www.annuityexpertadvice.com/rates/annuity/fixed/

📞 Want a free, unbiased review to lock in your permanent lifetime income? Call us for free at: 770-755-1565

⏱️ Video Chapters:

0:00 - Intro: Can I take monthly income from a MYGA?

0:08 - How to set up penalty-free systematic withdrawals

0:46 - The Rant: Why living off MYGA interest is a massive mistake

1:12 - The "Renewal Trap": What happens when interest rates drop?

1:47 - The Better Route: Guaranteed Lifetime Income Riders

2:02 - How to protect your principal using Term Life Insurance

2:26 - Maximizing protection with a Joint Life payout

3:03 - How to get free help from The Annuity Expert