Western and Southern Life Insurance Company was founded in 1888 and is based in Cincinnati, Ohio. Today, it operates as a wholly owned subsidiary of Western & Southern Financial Group, Inc.

The company’s mission is to help clients meet the bulk of their financial needs by providing responsive, competitive life, health, retirement savings and investment products and services.

Morningstar recently published a discussion (click here to read) between Moshe Milevsky, John Ameriks of Vanguard and Thomas Idzorek of Ibbotson.

The general topic is the pros and cons of guaranteed income streams.

Much discussion of whether, why, and when to annuitize.

Well worth the time.

Laddering is a term that refers to staggered purchases over time. 

Here is a bit of advice that might make annuities easier to understand:

Does one have to annuitize at some point and time? My understanding of the newer annuity offerings is that the riders that are available allow for a person potentially receive lifetime income without ever having to "annuitize" the contract. Is this correct?

Annuities are complex, largely misunderstood, and often misrepresented in popular financial media.

The reality, though, is that these financial products are becoming an increasingly important part of the financial plans of millions of people around the world.  In fact, annuities are a vital component of the retirement planning process.

AARP has published a tip sheet called Money Matters that offers advice on spending down one's assets in retirement.

The tip sheet addresses a number of areas, including:

• When to claim Social Security.
• Asset Allocation.
• Annuities.
• Withdrawal rates.
• The role of one's home in retirement planning.

For each topic, AARP offers a description of common or current practices, conventional wisdom and their general guidance.