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It can be tough to prepare for retirement amid today's economic uncertainty, and even retirees who've planned diligently are feeling the pressure of the current landscape. One major issue is that , making it increasingly difficult to use stocks and bonds to adequately prepare for retirement. Plus, , and traditional retirement income sources, like pensions, are less common than they used to be. In turn, there is a pressing need for older adults to identify steady, reliable income that won't disappear with the next market downturn. 

For that reason, . These insurance-based products are intended to convert a chunk of your retirement savings into predictable monthly income for life. While they may not offer the same growth potential as investing in stocks or real estate, annuities are built to provide stability, . The trade-off is that you give up access to your principal in exchange for guaranteed checks every month.

So from an annuity? If you're thinking of investing $200,000 into this type of retirement product, there are things to know about your potential monthly payout — and whether that's a smart move for your retirement goals.

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In general, a $200,0000 annuity won't offer monthly payments that are large enough to cover all your expenses during retirement. However, this type of annuity can still deliver a significant amount of income and can be useful for or other retirement income sources. According to , here's what a $200,000 immediate fixed annuity might pay monthly:

It's important to note, though, that these payouts are based on a single life immediate fixed annuity, which means the payments begin right away and last for the rest of your life. Monthly payouts are also based on factors like your age, gender, your annuity contract's structure . For example, a higher-rate environment would lead to larger monthly payments, while a lower-rate landscape would result in smaller monthly payments.

And, as showcased above, women typically receive slightly smaller payments because of their longer life expectancy, which means the annuity payments must stretch further. Similarly, joint annuities, which are a type of annuity that covers two people, such as a married couple, will typically pay less each month because the insurance company is promising income for a longer combined timespan. 

Annuities with added features like cost-of-living adjustments or guaranteed minimum periods, meantime, may reduce your monthly check but offer valuable trade-offs.

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depends on what you want your money to do. For many retirees, a $200,000 annuity generally isn't meant to replace all income. It's designed to complement existing benefits like Social Security, a pension or retirement account withdrawals. Here's how to think about whether it's a good fit:

But a $200,000 annuity might not be ideal if:

It's also worth considering how you fund the annuity. If you use pre-tax dollars, like the funds from a traditional individual retirement account (IRA), your entire payout will be taxed as ordinary income. If you use after-tax money, only the interest portion of your payments will be taxable.

A $200,000 annuity can provide reliable monthly income, often between about $1,100 and $2,100, depending on your age, gender and contract terms. That kind of consistent income can offer peace of mind for retirees who are seeking predictability and a hedge against outliving their savings.

Still, annuities aren't the right option for every retiree. Before committing, consider your other income sources, your need for liquidity and whether you're comfortable locking up a large chunk of cash. For many retirees, a $200,000 annuity won't be the entire solution, but it can be a powerful piece of the puzzle when it comes to building a retirement plan you can count on.