Is an Annuity Right for Your Retirement Plan? A Guide for Summerville & Charleston Lowcountry, South Carolina Retirees

Planning for retirement can feel overwhelming—especially when you’re trying to decide whether an annuity should be part of your long-term financial strategy. At Live Well Benefit Advisors, we help retirees across Summerville, Charleston, and the South Carolina Lowcountry gain clarity, understand their options, and build income plans designed for a confident, secure retirement.

If you’re wondering whether an annuity is a good fit for your retirement plan, this guide will walk you through how we help you decide.

1. We Start With Your Complete Retirement Snapshot

Every strong retirement plan begins with understanding your full financial picture.
Before discussing annuities, we take time to review:

• Current and future income sources

• Retirement timeline and lifestyle goals

• Risk tolerance

• Healthcare and longevity considerations

• Whether you need predictable income or prefer market-driven growth

Our approach ensures recommendations tailored specifically to South Carolina retirees in Summerville and the Charleston Lowcountry, not cookie-cutter advice.

2. Clear, Simple Explanations of the Annuity Options Available

We specialize in the annuity types most often suited for South Carolina retirees seeking stability and dependable income:

Fixed Annuities

Provide guaranteed interest and safety from market volatility.

Lifetime Income Annuities

Convert savings into income you cannot outlive.

Multi-Year Guaranteed Annuities (MYGAs)

Offer guaranteed growth for a set number of years—similar to CDs, but often with higher yields.

For each option, we break down:

• How it works

• What income guarantees it offers

• Surrender periods, liquidity, and fees

• When it fits—and when it doesn’t

You’ll always get clear, easy-to-understand explanations without technical insurance language.

3. Honest Pros and Cons So You Can Make a Confident Decision

Annuities can be an excellent tool for many South Carolina retirees, but they’re not right for everyone.

Potential Benefits

• Guaranteed lifetime income

• Reliable monthly cash flow

• Protection from stock-market downturns

• Peace of mind in uncertain markets

Potential Trade-Offs

• Reduced access to your money

• Potential surrender charges

• Income may not keep pace with inflation

• May not align with every retirement strategy

We review both sides clearly and honestly — the goal is clarity, not sales pressure.

4. Making Sure an Annuity Fits Your Entire Retirement Plan

An annuity should complement your financial plan, not replace it.
We look at how an annuity fits with:

• Social Security timing

• IRA and 401(k) withdrawal planning

• Required Minimum Distributions (RMDs)

• Medicare and long-term care strategies

• Legacy and estate planning

• Cost-of-living considerations in South Carolina

South Carolina retirees in Summerville and Charleston often want predictable income that supports local lifestyle and healthcare needs — we account for all of that.

If an annuity strengthens your plan, we’ll show you how.
If it doesn’t, we’ll recommend better alternatives.

5. When an Annuity Makes Sense, We Personalize It

If an annuity is a good fit, we help tailor it specifically to your needs:

• Lifetime income for individuals

• Joint-life income for spouses

• MYGA options for guaranteed, fixed growth

• Immediate or deferred income, depending on your timeline

Our goal is simple: build a retirement income strategy that supports peace of mind and long-term financial security.

FAQ: Common Questions from South Carolina Retirees

Are annuities safe?

Fixed and MYGA annuities are considered low-risk and protected from market loss.

Can I still access my money?

Yes, but access is limited during the surrender period. We explain all withdrawal options in detail.

Will an annuity protect me from market downturns?

Yes — fixed annuities and MYGAs do not lose value due to market volatility.

What happens to my annuity when I pass away?

Many annuities include death benefits or joint-life options so income continues for your spouse.

Retiring in Summerville or the Charleston Lowcountry, SC? Let’s Talk.

Whether you’re exploring annuities or want a complete retirement income review, Live Well Benefit Advisors proudly serves retirees across:

• Summerville, South Carolina

• Charleston, South Carolina

• Goose Creek

• Moncks Corner

• And the entire South Carolina Lowcountry

Our mission is simple:
Help you Live Well & Retire Smart.