RiskWise: Annuities and Income

Turning lifetime savings into reliable retirement income is one of the most complex challenges in financial planning. In this course, you’ll explore how annuities work as insurance‑based contracts designed to support retirement income and manage longevity risk—while also examining the tradeoffs they introduce around flexibility, liquidity, costs, and legacy planning. Through expert interviews and realistic retirement scenarios, you’ll compare annuities with traditional investment‑based approaches and evaluate when guaranteed income may be useful within a broader retirement plan. You’ll learn how income options, guarantees, fees, and contract features affect long‑term outcomes for individuals and households. Rather than promoting specific products, this course emphasizes evaluation, judgment, and communication. You’ll apply retirement income concepts to practical situations, considering portfolio pressure, survivor outcomes, and the challenges of clearly explaining tradeoffs to clients or family members. Designed for a broad audience—including aspiring and current financial professionals, retirement planners, and informed consumers—this course equips you to assess annuity contracts thoughtfully and understand their role in comprehensive retirement strategies. This course is part of the College of ACES suite of online programs. To learn more about online programs from the College of ACES and explore ways to apply your Coursera work toward a degree program at the University of Illinois, visit: https://aces.illinois.edu/online.