With pennies in your back pocket and dollars in the couch, money may seem like it’s virtually everywhere. But, do you know when this phenomenon first began? In 1786, 232 years ago today, Congress established the U.S. monetary system. However, the first U.S. dollar was not printed until 1862.

When the dollar was born, many Americans found themselves trying to grapple with this new form of currency. Now, it seems they are searching for the best ways to track their money and spend less wherever possible. Still, some are financially unprepared for life’s milestones: having a wedding, buying a first home, or sending a child to college. Particularly, when it comes to financial readiness, Americans are considerably unprepared to enter their golden years.

In fact, our recent data suggests almost one-fifth of all Americans approaching retirement are at the low end of the retirement readiness spectrum, having saved 20 percent or less of the money they will need for their golden years. This finding is particularly shocking when coupled with our data that revealed nearly 80 percent of America’s workforce is, above all, looking for lifetime income.

So how do Americans achieve a guaranteed lifetime income stream and prepare themselves to retire smoothly? Today, on National Dollar Day, when the U.S. monetary system was born, we share with you three ways:

1. Consider a Fixed Indexed Annuity (FIA)
   

   Fixed indexed annuities address many basic retirement concerns: protection of hard-earned dollars, tax-deferred growth, balance, and lifetime income. With most Americans seeking a guaranteed lifetime income stream, they can take comfort in the fact that FIAs are designed with this in mind, so you can never outlive your earnings.2.

2. Create a Balanced Portfolio
   

   For many Americans, retirement includes a nice balance between stability, favorite pastimes, and new adventures. But it can also mean balance in your financial life. Diversifying your retirement portfolio is important for balancing risk and growth. By adding an FIA to your financial portfolio, which may already include 401(k) and 403(b) plans, IRAs, CDs, and mutual funds, you can achieve the balance you crave.

3. Save, Save, Save
   

   With National Dollar Day upon us and retirement readiness scores at the low-end of the spectrum, the necessity of saving a dollar is more evident than ever. While Americans can observe National Dollar Day by either spending or saving a dollar, here at the Indexed Annuity Leadership Council, we encourage you to celebrate by starting or continuing to save for retirement. Consider using a retirement planning worksheet or retirement calculator to help you prepare to enter your golden years stress-free.

Make sure to use #NationalDollarDay and tag @IALCouncil on Twitter so we can hear your plans to kickstart your retirement saving plans today!