You’re Probably Wrong About How You’ll Pay for Retirement
February 22, 2023 by Mary Ellen Cagnassola
Think your investments will carry you through retirement? New research says that’s not the reality for the majority of workers in their pre-retirement years.
In a recent survey of Americans aged 40 to 85 with at least $100,000 in household investable assets, research trade association LIMRA found that fewer and fewer respondents are confident about their future retirement income. What’s more, when it comes to income sources, workers have very different expectations for funding their futures compared to where retirees get their money today.
Click HERE to read the full story via YAHOO! Money
Wink’s Note: I was just catching-up on my reading because I gave the staff of Wink, Inc. the day off.
Because of this, I came across this interesting little gem!
It is an articulate article by Mary Ellen Cagnassola, which was published on Yahoo news, and provides a bunch of stats on retirement readiness.
The summation of the article?
Social security is not going to cut it.
The conclusion of this piece?
“Individual annuities, which are retirement savings accounts that earn tax-deferred interest, are another way…workers can bolster their retirement income.”
This quote is courtesy of LIMRA, which unless I am mistaken is a trade group, that is owned by the insurance companies that are members of the group.
That said, OF COURSE LIMRA would suggest that people may want to purchase annuities!
So, is LIMRA membership paying for promotions on Yahoo now? Call me interested! -sjm
