How much will a $100,000 annuity pay each month at age 60?

It's important to understand exactly what an annuity will deliver before you sign on the dotted line. Sakchai Vongsasiripat/ For the majority of Americans heading into their 60s, their Social Security benefits will eventually provide at least some foundation for their retirement plans. But the gap between what those benefits cover and what a comfortable retirement actually costs can be high, especially in today's landscape, where the cost of living is rising rapidly amid other economic hurdles. As a result, guaranteed income has become one of the most valuable things money can buy in retirement (and one of the hardest to come by without a pension). That's exactly the space annuities are designed to fill . These insurance-based products are made to convert a lump sum of cash into a predictable income stream, offering a level of stability to retirees that market-based investments can't always match. But while the concept of an annuity is relatively straightforward, the actual payout can vary widely depending on when you buy, how you structure the contract and broader economic conditions. As a result, it's important to understand exactly what an annuity will deliver before you sign on the dotted line. So how much can you expect to get each month if you're considering putting $100,000 into an annuity at age 60? Learn more about your retirement annuity options online now . …