How much will a $250,000 annuity pay monthly at age 60?

Knowing that annuities exist and understanding what they'll actually deliver in retirement are two different things. Nanci Santos/ Retirement doesn't look the way it used to. More Americans are heading into retirement without a pension, and are instead leaning on savings accounts and investment portfolios that have become increasingly subject to market swings and the slow erosion of inflation. Social Security helps, but for most people, those benefits won't come close to covering the full cost of living comfortably, and that gap tends to widen the longer retirement lasts. That's precisely why guaranteed income has become such a sought-after commodity. In a financial environment where nothing feels certain, the ability to convert a lump sum of savings into a predictable monthly check — one that doesn't fluctuate based on what the market is doing — carries real value. Annuities are built to do exactly that , and with interest rates still relatively elevated compared to recent history, the monthly payouts available today are more attractive than they've been in years. But knowing that annuities exist and understanding what they'll actually deliver are two very different things. If you're 60 and considering putting $250,000 into one, the specifics of how much you'd receive each month depend on a range of factors. Below, we'll outline what you can actually expect to collect at this age with an annuity of that size. Compare your top retirement annuity options online now . …