What are boomers looking for as they prepare to enter retirement?
The answer is: Lifetime Income and Guarantees.
For your financial future, there is no question more important that you need to ask yourself than: “How long will money last?”
Many retirees must decide how to convert retirement account balances into income and how to preserve the accounts in the face of several kinds of risk.
Income planning is our specialty.
Reality: Most Americans fail to calculate how much money they will need for a steady and lasting retirement income!
MetLife Mature Market Institute, Westport, Conn., published this finding in a summary of results of a 2011 MetLife Retirement Income:
- 62% of those surveyed in 2011 realize that the greatest financial risk facing retirees is longevity, compared with 56% in 2008 and 23% in 2003.
- When asked about concerns during retirement, the number one answer was having enough income to cover essential expenses (32%), followed by the ability to afford health care (18%).
- The majority (87%) of respondents have taken steps toward ensuring adequate income for retirement, such as increasing their contributions to retirement plans or extending their working years.
- Just under two-thirds (62%) of them are currently seeking financial product advice.
Our proprietary Retirement Analyzer Software can assist you in determining what guarantees and income you should have in your retirement years. [Find out more here...]