Obtaining a stable income after retirementSome people cannot wait until retirement. The prospect of taking a break after 40 years of work is indeed very tempting. Everyone imagines themselves sitting on the backyard porch sipping tea, working on our rose bush, and doing other non-stressful activities. Unfortunately, that's only half the story. Certainly, retirees appreciate non-stressful activities. However, there are also problems that affect them, because retirees do not have a regular income if they do not plan for this money. Ideally, there should be some form of forced saving while still enjoying a steady stream of income. When they retire, they will be able to draw on this form of savings to enable them to continue leading a comfortable life. What would happen if your forced personal savings were insufficient when you retired? We can always use our pension plan, if it is available. There are many ways to benefit from our retirement plan. One of them is to convert it into an annuity plan. An annuity is a product offered by an institution through which you give it a sum of money in the form of a lump sum or over a period of time. In exchange, the institution will provide you with a constant stream of income starting at a later date. The amount of income depends on the size of your initial investment. Additionally, the best annuity rates and different types of annuities available will also affect your eventual income. When you reach retirement age, you will have a multitude of decisions to make. All of these issues relate to having a comfortable life after leaving the workforce and not having a consistent income stream. The retirement plan you have saved for all these years is now available to you. T...... middle of paper ......our monthly payments correspond to your age. In fact, the older you get, the more likely you are to get sick. Apart from this, at the time of signing, you should be free of illness. If, for example, you smoke, you will have to pay higher monthly payments. Again, this is due to the risk of exposure: the more likely you are to get sick, the higher your monthly payments will be. There is no doubt that private medical insurance these days can be very expensive. However, these are payments you make each month to prepare in case you need to have a medical procedure. When this happens, the major expenses will be borne by the insurance company. Imagine if you didn't have a private health insurance plan. If you have to have a medical procedure in the future, you will have difficulty paying the medical bills..