When planning for retirement, the ultimate goal is to secure a steady and reliable income stream that lasts a lifetime. Annuities and dividend stocks are two common ways to achieve this. Some soon-to-be retirees prioritize security and guaranteed income through an annuity, while others seek growth and flexibility with dividend stocks.

Strange but true: seniors fear death less than running out of money in retirement. And unfortunately, even retirees who have built a nest egg have good reason to be concerned - with the traditional approaches to retirement planning,