Many Americans are concerned about safeguarding their current savings and finding ways to secure lifetime income for their future. Today, 76% of Americans say protecting their retirement nest egg/account is important to them. In addition, 77% of Americans say it is important that they don’t outlive their income in retirement. 1 In the past, many companies offered defined benefit pension plans that were set up, funded, and managed by the employer. These retirement plans could typically provide a comfortable lifestyle throughout retirement, especially when combined with Social Security income. Unfortunately, these types of retirement plans have all but disappeared. The disappearance of defined benefit plans, coupled with an unsettled Social Security program, has left many who are approaching retirement at a loss for what to do in terms of long term income and ensuring that funds will be available in case of other pressing needs. There are many potential options available when it comes to retirement saving. But it can be difficult at best to know which way to turn when juggling between growing your nest egg, while at the same time protecting premium in an unsure market. When you choose a solution, it is important to work with a trusted and highly-rated insurance company. Companies proving financial strength and stability can help provide a clear picture for your long-term retirement outlook.
1. “Annuities, Retirement, and the Pandemic” – Assessing America’s Readiness study performed by IALC http://fiainsights.org/wp-content/uploads/2018/02/V1-IALC-Overview-Brochure-06-21-1.pdf
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REV 8-23
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