When is professional advice worth paying for when deciding whether an annuity fits my retirement plan?

For the long term plan, before hiring a professional, verify registration, review Form CRS when applicable, and compare services, conflicts, and the total dollar cost. As part of the financial analysis, an annuity can be useful when a household values contractual lifetime income or certain insurance guarantees, but the tradeoffs must be understood. For the household plan, compare the proposed annuity with the income already provided by Social Security or pensions and with lower complexity alternatives.