Archive for May 1st, 2012
According to ING Direct 89% of surveyed Americans think a worker should start saving for retirement at their first job and continue saving throughout their working years while only 28% said that they regularly save for retirement.
Sun Life Financial finds American worker’s faith in future retirement is at a 4 year low. In September 2011 retirement confidence dropped 20% from the previous year; September 2010.
LIMRA found 41% or pre-retirees are not putting aside any money for retirement at all and 21% of those not retired are saving less than $100 per month.
The Insured Retirement Institute reports 51% of boomers age 60 to 65 think they will not have enough money to retire comfortably.
The purchase of pension-like annuities; for example fixed index annuities with a guaranteed lifetime benefit rider have been setting records. 70% of all fixed index annuities are issued with an income benefit and on average, retirees are starting that income within 1.4 years of purchasing the annuity.
You may ask questions in the comments or contact me privately Tim Barton, ChFCContinue Reading »