Changing Face of Retirement Shines New Light on Aging in America

“The Changing Face of Retirement depicts a genuine and unromanticized view of retirement,” said Jim Poolman, Executive Director of Indexed Annuity Leadership Council. “It’s clearer than ever that a comfortable, secure retirement, though certainly attainable, is not something that occurs without thorough preparation and long-term financial planning.”

The Changing Face of Retirement found several notable conclusions in its polling analysis. Key findings include:

• 54% percent of Americans have never spoken with a financial adviser.
• Confidence in traditional retirement support is weakening. Only 26% of people between 18 and 34 plan to rely on Social Security.
• Nearly 2/3rds of those 55 and older said they plan to work past 67 for financial reasons.
• Only 41% of those ages 54 and under plan to retire before 67.

The retirement experience changes from region to region and across the economic scale. To lend a human face to the findings, IALC spoke with five families from across the United States to understand what retirement meant for them.

“At the end of the day, your retirement will be the result of your willingness to plan ahead, work hard and think carefully about what you are hoping for from your golden years,” said Poolman. “By building a diverse financial portfolio that allows for guaranteed income for life, retirement should not be feared, but appreciated. Fixed Index Annuities (FIAs) are one important tool that can act as a helpful part of a savings portfolio and can support a meaningful, long-lasting retirement.”

An FIA is an insurance product that does not lose value, even when the market takes a downturn and offers steady income through retirement, while protecting you from market volatility.

About the Indexed Annuity Leadership Council

The Indexed Annuity Leadership Council (IALC) brings together a consortium of life insurance companies with a commitment to providing consumers, the media, regulators and industry professionals complete and factual information about the use of indexed annuities. Namely, that these products provide a source of guaranteed income, principal protection, and interest rate stability in retirement as well as balance to any long-term financial plan.