Since COVID-19 and the subsequent market volatility, 7 out of 10 Americans are now pessimistic about their retirement plan and some are turning to lower-risk options for their retirement investments, according to Alliance for Lifetime Income surveys conducted in April and June.
The Alliance’s online Retirement Reset Tracker surveys of Americans between 56 and 75 years old show that people have reset how they think about retirement, including when, how and where to retire. In particular, 1 in 4 pre-retirees are looking to reduce risk in their investments to protect their retirement.
For financial professionals helping their clients navigate through a retirement plan during this volatile time, the message is even clearer: Your clients might be more interested than you think in securing their retirement income with an annuity.
For millions of Americans across generations, annuities have been a sound solution because they provide predictable monthly income that is protected no matter what the market is doing, in addition to helping reduce the risk that they will outlive their money since payments can continue throughout retirement. (Source: InvestmentNews.com)