@Mike Milligan One stat retirees should know is that by adding guaranteed income they can spend MORE. 29% more like Dawn said. One message I will focus on is the fact that annuity income not only allows you to spend more, it also reduces your decision fatigue. In other words it removes the decision on what asset to sell & when to sell it when you need the income. It gives you less stress and more freedom with your other funds. For example you can spend more of your other funds on good years if you choose to, you can let them beat inflation, you can give them, you can leave more to your children, etc. Less decision fatigue more living.