Are you a Master of Retirement?

Are you a Master of Retirement?

The Indexed Annuity Leadership Council is excited to announce its new interactive game, Master of Retirement.

New and interesting data points, found from IALC surveys, power the game questions and demonstrate the need to offer approachable and light-hearted ways of boosting Americans’ confidence when it comes to saving for retirement. From hard hitting statistics to fun retirement trivia, everyone has the chance to rise in the ranks from novice to master.

Think you’re a Master of Retirement? Test your knowledge by playing today! Be sure to share your score on social to challenge friends and family to also play the fun, educational game.

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AT WHAT AGE SHOULD YOU PURCHASE AN INDEXED ANNUITY?

The great thing about fixed indexed annuities is that they are a reliable retirement planning vehicle appropriate for people in a variety of life stages. However, there are a few rules of thumb to follow when thinking about purchasing a fixed indexed annuity. Of course, always speak with your retirement planning professional to see what makes most sense for you and your family.

  • Mid-40s to mid-50s is a great time for many people to consider purchasing a fixed indexed annuity. Keeping a portion of your retirement pie protected is often important for those approaching retirement age in the next 10-15 years.  Knowing that you could have some guaranteed annual income from an annuity in retirement gives you the peace of mind to pursue additional growth investments and take care of family obligations.
  • In your mid 50s-60s, you’re more likely to be looking for safe options—you can’t necessarily afford to take the risks you previously could since it will be difficult to recover massive hits to your portfolio. Indexed annuities are extremely popular with this age group because of option of guaranteed lifetime income these products can offer.

Unlike some other retirement savings vehicles, there is no limit to how much money you can put into a fixed indexed annuity or certain age at which you’re eligible to buy a fixed indexed annuity. In an era where many are looking for peace of mind and protection, it’s worth thinking about when considering if a fixed indexed annuity may be right for you.

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IALC Q3 2017 Newsletter

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New Data: Extreme Lack of Diversification Could Add to Retirement Crisis

Balance Gained By Considering Alternative Financial Products Such As FIAs

Americans need to take additional steps in order to ensure a financially stable retirement – one that allows them to pay for medical bills and essential costs of living while enjoying their bucket list.

Our new data shows most Americans are at risk of an unstable retirement. In fact, only 9% are diversifying their portfolio which is essential to managing risk so that not all financial eggs are in one basket. A diversification strategy can ensure balance and provide retirement planning peace of mind.

That said, it can be hard to create diversity. What products will bring you closer to a financially secure retirement?

Surprisingly, the study found 22% of Americans are not familiar with the most routinely used retirement products such as mutual funds, Certificate of Deposits (CDs), and Fixed Indexed Annuities (FIAs), that can create portfolio diversity.

Consider FIAs to help create a foundation of conservative growth and ensure a steady income during retirement. With both growth potential and principal protection, FIAs can be a complementary product within existing portfolios since they are not subject to the volatility of the stock market.

While FIAs are a secure way to create balance and get a steady income during retirement, there are misconceptions about it – watch the video to see the top myths busted and check out FIAFacts.org to learn more including the Top 20 Myths and other videos!

Blogs You Might Have Missed:

Top 3 Qs To Ask Your Advisor

Knowing how much and where to save your money is essential to leading a financially secure life. However, wrapping your head around the multitude of retirement options available can be stressful. Consider talking to a financial professional with the right knowledge to ensure you are left with more answers than questions to help you achieve your long-term financial goals.

Read the full blog here. 

What Happens To An FIA Balance If I Die?

One common misconception about annuities is that you lose the balance of the annuity if you die. In the case of Fixed Indexed Annuities (FIAs), the money remaining in your annuity can pass to one or more named beneficiaries after your death.

Read the full blog here. 

3 Ways to Bridge the Gender Savings Gap

When it comes to savings, the gender savings gap is huge. A recent study indicated that women have 50% lower savings than their male counterparts. There are a number of reasons that this disparity exists, among these are that, on average, women earn lower salaries than their male counterparts and will spend fewer years in the workforce. However, there are actions that women can take right now, that will help improve their savings and provide a bridge to end the gender savings gap.

Read the full blog here. 

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PART THREE – MYTH VS. FACT: The Path to Financial Diversity

It’s hard to achieve financial diversity when you’re unsure of the tools available to you or confused by the variety of options – mutual funds, Certificate of Deposits (CDs), Fixed Indexed Annuities (FIAs), and more.

With so much financial advice swirling around out there, it’s difficult to decipher between what’s myth and what’s fact. In order to address this gap and diversify your financial strategy, consider FIAs as a means to help create a foundation of conservative growth and to ensure a steady income during retirement.

In the third and final installment of IALC’s Fact vs. Myth series, the IALC wanted to break down the remaining misconceptions about the savings tool.

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Part Two – Myth vs. Fact: Lack of Portfolio Diversity Puts Retirement At Risk

While the stock market continues to perform well, everyone remembers the down turn in 2008. In order to protect yourself and your finances from these market swings, it’s important to take steps towards balancing your portfolio. As a long-term saving strategy and a way to balance a retirement portfolio, Fixed Index Annuities (FIAs) are appealing because they transform savings into predictable income.

In Part Two of the Myth vs Fact series, the Indexed Annuity Leadership Council debunks more commonly held misconceptions about FIAs.

To see more myths debunked, check out Part One of the series – NEW DATA: EXTREME LACK OF DIVERSIFICATION COULD ADD TO RETIREMENT CRISIS.

*Select data trends were compiled from Toluna’s online panel in April 2017, among n=1000 adults (ages 18 and over).

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New Data: Extreme Lack of Diversification Could Add to Retirement Crisis

The retirement crisis has become a topic of conversation in the United States, and while its actualization is still widely debated, there is no doubt Americans need to take additional steps in order to ensure a financially stable retirement – one that allows them to cross off items on their bucket list while managing to pay for medical bills and other essential costs of living.

New data from the Indexed Annuity Leadership Council (IALC) shows most Americans are at risk of an unstable retirement. In fact, only nine percent are focused on diversifying their portfolio which is essential to managing financial risk especially when it comes to saving for retirement. If the majority of your retirement savings are in the stock market, when it takes a downturn, the risk of losing it all is real. A diversification strategy can ensure balance and provide retirement planning peace of mind.

That said, it can be hard to create diversity if you don’t know what products to add to your portfolio. The same study found 22 percent of Americans are not familiar with the most routinely used retirement products, such as mutual funds, Certificate of Deposits (CDs), and Fixed Indexed Annuities (FIAs), that would allow them to diversify their portfolio.

In order to address this gap and diversify your financial strategy, consider FIAs as a means to help create a foundation of conservative growth and help to ensure a steady income during retirement. With both growth potential and principal protection, FIAs can be a complementary product within your existing portfolio since FIAs are not subject to the volatility of the stock market.

While FIAs are a balanced and secure way to receive a steady income during retirement, there are widely held misconceptions about this financial product as well as the available income options it can offer in retirement.

Here are some of the other debunked myths:

*Select data trends were compiled from Toluna’s online panel in April 2017, among n=1000 adults (ages 18 and over).

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Top 3 Things to Ask Your Financial Professional

Knowing how much and where to save your money is essential to leading a financially secure life. However, wrapping your head around the multitude of retirement options available can be stressful. Consider talking to a financial professional with the right knowledge to ensure you are left with more answers than questions to help you achieve your long-term financial goals.

To get the most out of your meeting and ensure a fiscally sound future, make sure to ask your financial professional these three questions:

1. How much of my income should I put toward my retirement savings? While the percentage of income that goes toward retirement savings varies from person to person, it’s important that at whatever income level, you are contributing something toward your retirement. Talk to your financial professional about your goals to assess an amount that works for you.

2. Is my portfolio diversified? Investing in your company’s 401(k) retirement plan can be a great choice if your employer offers this type of plan, but it isn’t the only option. Balancing your portfolio with options like fixed indexed annuities (FIAs) can help secure a guaranteed lifetime income stream and minimize risk. FIAs can help bring balance to some more risky options in your portfolio and can help protect against volatile markets.

3. Am I ready for retirement? According to a report from the Indexed Annuity Leadership Council, one in three Americans confess to stopping their retirement savings at least once. Ask your financial professional to examine your financial situation and evaluate if you are on track to meet your retirement goals. If not, see what adjustments you can make in your savings strategy to help foster financial security.

Think you know everything about retirement? These 4 things about retirement may leave you surprised.

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The 5 W’s of a Successful Retirement

There’s no better time than today to develop your retirement plan and consider options that may be suitable for your future. Fixed indexed annuities (FIAs) can offer lifetime income and provide peace of mind when looking for ways to protect your nest egg from market downturns.

Read about the 5 W’s of FIAs to find out if this is the right option for you.

What is an FIA? A fixed indexed annuity is a contract between you and an insurance company where the potential interest earned is linked to an external benchmark index. You can choose to make premium payments in either a single lump sum or multiple payments over time.

Who should purchase an FIA? FIAs can provide guaranteed income in retirement and can be a smart solution for someone looking to balance his or her portfolio. Check out our Smart Buyer Checklist to learn more.

Where can I purchase a FIA? Talk to a licensed insurance agent about your interest in purchasing an FIA. Companies selling indexed annuities are required by the National Association of Insurance Commissioners (NAIC) to review every sale and ensure indexed annuities are suitable for the customer.

When is the best time to purchase a FIA? FIAs are not actually invested in the stock market, which means they can be purchased at all times even during negative market fluctuations. With FIAs, your principal is protected and will never decline in value due to market loss.

Why should I purchase an FIA? FIAs can help to provide guaranteed income, principal protection from market downturns and interest rate stability in retirement.

Watch this clip to get to know the basics of FIAs today! Interested in learning more about retirement planning, but not sure where to start? Check out our various retirement calculators.

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3 Simple Ways to Save for Retirement

Summer is here, and the future is brighter than ever. If you are busy planning, saving and budgeting for a summer vacation, use these tips to make the most out of your summer and get your retirement savings on track.

1. Spend less and save more. With this warmer weather, nothing sounds better than going out to dinner with your family or significant other after a long and stressful week at work. However, going to your favorite dinner spot can lead to more stress down the road. Consider making a meal at home and using the money saved to get ahead on retirement savings.

2. Make use of financial resources.  Saving for retirement can seem complicated, but there are tools that can help you plan. With plenty of resources such as mobile apps, books, and blogs (like this one) available at your fingertips, you can take full control of your retirement savings. Take advantage of tools like the retirement calculator to estimate your retirement living expenses or determine your Social Security retirement income.

3. Diversify your portfolio. Whether that means putting aside some money into your 401(k) or another savings account, avoid putting all your nest eggs in one basket.  Diversifying your portfolio also allows you to maximize potential gain and minimize risk. Go beyond the workforce and consider other options like purchasing a fixed indexed annuity. Adding a fixed indexed annuity to your portfolio can help ensure a lifetime stream of income.

 

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Devising a Summer Savings Plan

Summer is here and that calls for some down time relaxing with family and friends. Whether you plan on spending your summer days in the sun or binge-watching your favorite television series, developing a summer savings plan will help you enjoy your days now, and stay on track with your retirement plan to make sure you can enjoy more summer days down the road.

Save smart this summer with these 4 tips:

1. Building a budget will help you assess how much you’ve spent this summer, determine any ongoing expenses, and forgo any unnecessary spending.

2. Summer cleaning. Consider getting rid of the bookshelf that takes up too much space, or the skates you only used once, and consider selling some of these items to those who could put them to good use. The money you earn from this sale can go directly to your retirement savings.

3. Financial portfolio. Expand your summer cleaning duties by tidying up your financial portfolio and ensuring the amount of risk is consistent with your current needs. Adding a product such as a fixed indexed annuity (FIA) may provide balance to your financial plan.

4. Public transportation. The cost of driving around town adds up. Enjoy the longer summer days and consider riding a bike or taking the public transit at least once a week. Use the money you saved to give your retirement savings a boost.

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