Where Are We Now? Assessing America’s Retirement Readiness
At the Indexed Annuity Leadership Council (IALC), we partnered with Opinium to find out how Americans are feeling about their financial and retirement situations since the pandemic. We learned that most Americans desire increased security and peace of mind during retirement in the form of guaranteed income. The research shows that many of us (42%), understandably, have become more risk-averse when it comes to our finances. As a result, a vast majority of Americans, 86%, say that guaranteeing their income in retirement is important.
We surveyed 2,010 adults living in the United States on their opinions of annuities, retirement, and the pandemic.
Americans have been adversely impacted by the pandemic and many are worried about their finances.
Americans are deeply concerned about safeguarding their current savings and finding ways to secure lifetime income for their future.
76% of Americans say protecting their retirement nest egg/account from loss is important to them.
77% of Americans say it is important that they don’t outlive their income in retirement. Half (50%) say it is very important.
54% of Americans say they would consider working-part time to supplement their retirement income. This rises to 69% among those considering retiring in the next five years and 73% among those planning to retire in five years or beyond.
What We Can Do
It’s obvious that Americans are in search for answers to their retirement questions and concerns. We can address this by focusing on three things:
A Little-Known Lifeline
Fixed Indexed Annuities (FIA) offers the peace of mind Americans are looking for in their retirement futures. FIAs offer a steady, guaranteed, and lifetime income stream while protecting the principal from the uncertainty of market volatility. Specifically, FIAs offer:
• A guaranteed income stream
• Portfolio diversification
• Secured principal
• Predictable earnings
• Tax-deferred growth
Tool
Calculators
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Resource
Planning Worksheet
Put pen to paper with a fill-in-the-blank worksheet to chart your retirement plan