[Packer Fan]

OP - as I suspected when I read your post, you got several pages of answers uneducated responses from people who don’t even know
There are MANY different types of annuities and most of the people who answered don’t know the difference between a SPIA, DIA, and a MYGA. I would suggest reading Wade Pfau’s retirement planning guidebook. Also, if you want to actually understand annuities watch Stan the annuity man on YouTube and you will learn a lot. I would not buy an annuity at a chicken dinner. All that being said, the main benefit of most annuities is lifetime income, not filling in a 5 year gap when you retire. Filling in that gap is best done with CDs or bonds. If you want more lifetime income, then look at a SPIA, DIA, or a FIA with a lifetime income rider. I will say I bought a MYGA ladder for 4,5,6,7, and 8 years 3 months ago and locked in 5.4% compound interest for that time period when I could not get 5% from CDs but I am not retiring for a few more years.