Take the Fast Track to Become a Master of Retirement: Three Hints for Playing IALC’s New Game
Last week, the IALC launched its interactive game Master of Retirement. Shocking new data points, found from IALC surveys, power the game’s questions and demonstrate the need to offer approachable and light-hearted ways of boosting Americans’ confidence when it comes to saving for retirement.
In the coming days, we will share tips to help you rise in the retirement ranks. Start by checking out the below hints to lift your Master of Retirement score and increase your retirement planning IQ along the way.
The Question: What is a reason some people choose a fixed indexed annuity?
- Missing a steady paycheck and income for life
- Having the principal protected against volatile markets
- Helping to moderate risk in a financial plan
- All of the above
The Answer: D! While half of Americans say they will miss receiving a steady paycheck in retirement the most, moderating risk in a financial plan and protecting the principal are also top of mind. Fixed indexed annuities can provide a guaranteed lifetime income stream, while offering balance and minimizing risk in your retirement plan.
The Question: What percentage of men are “very confident” in their ability to fully retire with a comfortable lifestyle?
- 100 percent
- 19 percent
- 1 percent
- 50 percent
The Answer: B! Only 19 percent of men are “very confident” in their ability to fully retire with a comfortable lifestyle, compared to just 10 percent of women.
The Question: How many people would not be able to pay an unexpected bill of $500 or more?
- About 20 percent
- Almost 100 percent
- About 90 percent
- Everyone can pay an unexpected bill
The Answer: A! According to a survey by the IALC, 22 percent of Americans report they wouldn’t be able to pay an unexpected bill of $500 or more without borrowing money.
As you play the game, remember just like with actual retirement planning, you are balancing risk and reward, while never putting all your financial eggs in one basket.
Interested in more tips for saving for your golden years? Stay tuned for other Master of Retirement tips, right here on our blog, and visit us on Facebook and Twitter for daily retirement insights brought to you by the IALC. Happy playing!