The biggest advantages annuities offer is that they allow you to sock away a larger amount of cash and defer paying taxes.

One reason many people worry about not having enough money in retirement is that they (quite reasonably) fear needing long-term care and not being able to afford it -- or having to wipe out their savings in order to pay for it.

Last February, Samitha Hendrickson gave birth to her first child.

The labor and delivery were long and not without serious complications. Hendrickson needed an emergency C-section, or cesarean. Her newborn couldn’t breathe on his own and needed to be resuscitated.

In my book, “Rewirement: Rewiring the Way You Think About Retirement,” I lay out a detailed ten-step process that everyone can use while doing retirement income planning. This is also the same process that is taught to thousands of financial advisers in the Retirement Income Certified Professional education program. However, in reality, many people are not even taking baby steps to pave the way for a financially secure retirement. For some, retirement planning seems too difficult; for others, it seems like retirement won’t ever apply to them. The facts are that most workers will retire someday and, by taking a few basic steps now, they can vastly improve the outlook for their future retirement security.

Supplement insurance to fill in the gaps that Medicare does not pay are on the rise, increasing by 500,000 in 2017 over 2016, according to the American Association for Medicare Supplement Insurance.