How are you saving for retirement? Like most people, you’re probably contributing to a 401k or IRA. There’s nothing wrong with that. After all, there were about 600,000 401(k) plans in 2020, with 60 million active participants and millions of retired and former employees. And, in the same year, nearly 29 percent of US households owned traditional IRAs. — There are, however, other retirement plans with exploring. Case in point annuities, which are tax-friendly. Also, annuities offer a number of advantages that make them an attractive investment for retirement. Primarily, this is having a guaranteed steady income that you can’t outlive.