Let’s Talk about Your Client’s M.U.G.
April 1, 2020 by Tom Henga
Only 17% of workers (and 32% of current retirees) are very confident they will have enough money to live comfortably throughout their retirement, according to the Employee Benefit Research Institute’s (EBRI) 2018 Retirement Confidence Survey. What’s worse is that only 38% of retirees are very confident they will have enough money to take care of basic expenses during retirement.
If your client’s retirement plan doesn’t include guaranteed lifetime income to cover basic expenses, your client is basically rolling the dice. Only about 12% of workers are very confident that they know how much income they will need each month in retirement, or how to even withdraw that income. So, how do Americans plan for their retirements if they don’t even know how to determine the amount of money they’ll need to pay for those basic everyday expenses?
Click HERE to read the full story via ThinkAdvisor
