Adding an annuity to your retirement portfolio could be a good move, but not at every age. Getty Images

As Americans live longer and face growing concerns about outliving their savings, annuities are becoming a popular way to create steady retirement income. Annuity sales surpassed $432 billion in 2024, according to data from LIMRA , drawing many retirees to the promise of guaranteed payments for life.

But while these products can provide stable, reliable income in retirement , the timing of when you buy one can determine whether it's a smart or counterproductive financial move. And, the considerations change as you move through different stages of your golden years, as certain life circumstances and other factors can make annuities less attractive .

So, at what point

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