Are you nearing retirement and wondering exactly what is a retirement annuity and if you actually need one? If you want to protect your savings from stock market crashes and guarantee that you never outlive your money, you need to understand how these financial tools operate.

In this completely unfiltered video, Shawn from The Annuity Expert breaks down exactly how does a retirement annuity work. He explains the two main phases of an annuity (the accumulation phase and the income phase) and details the various ways you can withdraw your money—from basic systematic withdrawals to adding a Guaranteed Lifetime Withdrawal Benefit (GLWB) that acts as an unbreakable personal pension plan.

Shawn also walks through the exact types of contracts available on the market today, including Fixed Index Annuities, MYGAs, QLACs, and the ones you shoul ...