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 ...