09.01.24
Annuities Gain Traction With Middle-Income Consumers
by: Susan Rupe
Research by LIMRA suggests that middle-income Americans are aware of the longevity and volatility risks of their retirement savings and are increasingly interested in creating a guaranteed income stream to cover basic living expenses. The research found that 47% of working adults aged 50-75 believe they will be able to cover basic living expenses in retirement with guaranteed income sources. The research also found that 80% of middle-income Americans said having guaranteed lifetime income gives people peace of mind in retirement, and half said they would be interested in converting a portion of their retirement savings into an annuity.
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