IALC Q3 2016 Newsletter
Americans’ Top Retirement Fears
This month, IALC released new data that explored Americans’ Top Retirement Fears and found Americans may not be as prepared for retirement as they need to be in today’s volatile market. More than 50 percent of Americans are afraid of outliving their income or their inability to pay for basic necessities like healthcare, but are not changing their financial lives to address their fears, according to a new survey released by the IALC.
Even with this fear, many are not taking the necessary steps to prioritize future savings over their current expenses. In fact, a quarter of Baby Boomers – the age group closest to retirement – have less than $5,000 saved for retirement and nearly one in five Americans have no idea how much they’ve saved.
When taking a closer look at exactly what Americans top retirement fears are, the IALC found they include:
Want to learn more about what Americans are most concerned about when it comes to their retirement? Check out the survey data here.
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Keep Up on Retirement News
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To mark Annuity Awareness Month this June, the Indexed Annuity Leadership Council is debunking the top 12 myths about FIAs.
While a vacation may last a week or two, retirement may last upwards of 30 years. Neglecting to plan for a period of your life that might last nearly three decades, during which you’ll need to rely on savings, may make your golden years more difficult than you’d expect.