One of the biggest complaints people have about lifetime income annuities is how long it takes to break even. What if you didn't have to wait 15 years to get your original investment back?

In this video, Shawn Plummer from The Annuity Expert breaks down a highly effective strategy for retirees who want to maximize their income right out of the gate: The "Advanced Payout" Annuity.

Unlike a standard level payout that pays the exact same amount forever, an Advanced Payout fronts you massively higher income for the first 10 years of your contract. Shawn runs the live math on our calculator to show how a 65-year-old with $1,000,000 can lock in over $103,000 a year for the first decade. This allows you to completely recoup your original principal in under 10 years! Starting in year 11, the payout drops in half—but at that point, you are pla ...