How much lifetime income could your savings actually produce?
Plug in your number, your age, and when you’d want income to start. We’ll show you the monthly check a real carrier would write — anchored to actual April 2026 quotes, not made-up numbers.
Your inputs
Income starts at age 65. Premium grows during the deferral period.
Band reflects ~±7% carrier-to-carrier spread on real Apr-2026 quotes. The Doctor will pull live numbers on the call.
Deferring grows your income base and lifts the payout rate. The trade is liquidity — you can't tap the premium during the wait.
Here's the plain math. $250,000 parked for 5 years and then turned into single-life income at age 65 would pay roughly $2,290 per month — about $27,478 a year. Your premium would grow to an income base around $352,279 during the deferral period, then convert at a 7.80% lifetime payout rate.
If you started income today instead, the same $250,000 would pay about $1,458/mo. Waiting 5 years adds roughly $832 a month — about 57% more — because the income base compounds and the payout rate gets stronger as you age.
One nuance: actual carrier quotes vary about ±7% around these numbers depending on which carrier, which product, and the rate environment that week. The estimate above sits in the middle — the band is roughly $2,130 – $2,450 per month at today's rates.
Lifetime income is one piece of a retirement plan — not the whole plan. It doesn't solve Social Security timing, IRMAA brackets (Medicare premium surcharges that kick in above certain income thresholds), tax bracket strategy at withdrawal, or sequence-of-returns risk on the rest of your portfolio. Use it for the part of your income that has to be there no matter what the market does.
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Educational tool. Estimates use payout tables calibrated to real Apr-2026 carrier quotes; actual rates vary ±7% by carrier and move weekly. Not a solicitation, recommendation, or quote. Lifetime income annuities are long-term contracts; early surrenders may forfeit guaranteed benefits and incur charges. AM Best ratings are an opinion of relative financial strength, not a guarantee.
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Frequently asked questions
How does this calculator estimate income?
It uses payout tables anchored to real carrier quotes from April 2026 — single-life and joint-life SPIA rates by age, plus deferral roll-ups by years waited. The carrier band shown (±7%) reflects actual top-to-mid carrier spread. The Doctor pulls live quotes on the call.
What's the difference between starting income now vs deferring?
Starting now is a SPIA — immediate payout, lifetime guarantee, you give up access to the principal. Deferring is typically a fixed-index annuity with an income rider — your premium grows in an income base during the wait, then converts to income at a higher rate because you're older. Deferral usually adds 30–80% more monthly income depending on how long you wait.
Single life vs joint life — which is right?
Single life pays roughly 10% more per month, but stops when you die. Joint life continues for the longer of two lives — important if your spouse depends on the income. Some couples solve this with single-life income on the higher earner plus a term life policy. A specialist can model both side by side.
How safe is income from an annuity?
Lifetime income is backed by the claims-paying ability of the issuing insurance carrier. State guaranty associations provide an additional safety net — the NAIC model floor is $250,000 per owner per carrier in present value of annuity benefits; some states (NY, CT, WA) cover up to $500,000. Carrier financial strength (AM Best rating, capitalization, reinsurance) matters a lot.
Can I get the money back if my situation changes?
A SPIA generally cannot be unwound — that's the trade for the lifetime payout rate. Deferred income products (FIA with income rider) typically let you surrender for the account value (minus surrender charges) during the deferral period, but once you turn income on, that piece is irrevocable. This is why income annuities should only ever be part of your money — never all of it.