The December 2023 study surveyed retirement age investors (ages 55 to 75) who work with financial professionals and have investable assets between $250,000 and $1 million. It revealed investors rate investments that provide stability, protection, a steady income stream, and guaranteed retirement income over investments that come with more risk.

The study suggests that scars from the 2022 downturn, when the S&P 500 sank more than 18%, are still fresh for many, and investors remain focused on strategies for generating reliable retirement income and protecting their savings against volatility.

A full 65% of survey respondents cited “creating a retirement income plan that provides income for as long as I live” as one of their top two financial priorities and nearly half (48%) ranked “protecting assets from loss” as one of their top two primary investing goals, even with the S&P 500 gaining in 2023.

Eight in 10 investors (81%) said protecting investments while they grow by limiting downside risk is important, and two-thirds (69%) said their financial professional has offered strategies to insulate from investment losses. The study found that nearly half (47%) of respondents had discussed annuities with their financial professional in the past year. Of those that did, 30% purchased a new annuity, while almost 22% allocated more to an existing annuity.

“Asset allocation is a core component of any conversation financial professionals have with their clients,” said Paula Nelson, Head of Strategic Growth for Individual Markets at Global Atlantic. “But we believe these conversations should expand beyond a typical stock and bond allocation and include a broader range of products and strategies, such as annuities and the numerous other ways to diversify client portfolios.”

According to the study, financial professionals are proving adept at guiding clients through challenging environments. The study revealed an 84% satisfaction rate with financial professionals in 2023, as investors lean heavily on professional advice to navigate lingering economic crosscurrents.

“With multiple domestic and global events impacting the market, we think it is more important than ever for financial professionals to have regular and meaningful conversations with their clients about income protection,” Nelson added. “There is undoubtedly a great deal of uncertainty among retirement-age investors, and the survey findings highlight that those nearing or already in retirement understand the overall importance of these topics.”

You can read more details about the Global Atlantic 2024 Retirement Outlook Survey here: https://www.globalatlantic.com/professionals/allocationconversation/insights

About Global Atlantic

Global Atlantic Financial Group is a leading insurance company meeting the retirement and life insurance needs of individuals and institutions. With a strong financial foundation and risk and investment management expertise, the company delivers tailored solutions to create more secure financial futures. The company’s performance has been driven by its culture and core values focused on integrity, teamwork and the importance of building long-term client relationships. Global Atlantic is a wholly-owned subsidiary of KKR, a leading global investment firm. Through its relationship, the company leverages KKR’s investment capabilities, scale and access to capital markets to enhance the value it offers clients. KKR’s parent company is KKR & Co. Inc. (NYSE: KKR).

Annuities are issued by Forethought Life Insurance Company, 10 West Market Street, Suite 2300, Indianapolis, Indiana. Registered products are underwritten and distributed by Global Atlantic Distributors, LLC. Neither this press release nor the Global Atlantic 2024 Retirement Outlook Survey is, and neither shall be construed as, an offer to sell insurance in any jurisdiction. These materials are intended to provide educational information regarding the market for retirement and life products generally and are intended for use with the general public. These materials should not be considered, and do not constitute, personalized investment advice.

The “S&P 500® Index” is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by Forethought Life Insurance Company (“Forethought”). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Forethought. Forethought’s Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index.

Global Atlantic Financial Group (Global Atlantic) is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries, including Accordia Life and Annuity Company, Commonwealth Annuity and Life Insurance Company, Forethought Life Insurance Company and Global Atlantic Re Limited. Each subsidiary is responsible for its own financial and contractual obligations. These subsidiaries are not authorized to do business in New York.

About the Survey Methodology:

The nationwide Global Atlantic 2024 Retirement Outlook Survey was conducted online by Artemis Strategy Group from December 8 to December 29, 2023 among 1,018 investors with $250K to $1M in investable assets, ages 55 to 75 who work with a financial professional. Data is weighted on region and by age group on gender, race/ethnicity, assets, and education to reflect the population ages 55 to 75 with $250,000 to $999,999 in savings or investments based on the Federal Reserve 2021 Survey of Household Economics and Decision-making (SHED).