Industry News: Rising Retirement Goals Are Driving the Income Conversation

Retirement Savings Targets Continue to Rise

As Americans’ retirement savings targets continue to increase, approaching $1.5 million on average, the gap between what many people believe they need and what they have actually saved is becoming an increasingly important part of the retirement planning conversation.

This is also bringing greater attention to guaranteed lifetime income solutions, including annuities, as clients look for ways to create more predictable income throughout retirement.

For agents and advisors, this creates an opportunity to help clients look beyond their account balances and understand how different income strategies can work together as part of a comprehensive retirement plan.

Agent Tip: Consider asking clients not only, “How much have you saved?” but also, “How much income will you need each month in retirement, and where will that income come from?”

Helping clients understand the role annuities can play in a broader retirement income strategy can lead to more informed and confident retirement planning conversations.