New Year’s Resolution for 2018: Become a Master of Retirement

With the new year around the corner, have you started making a list of 2018 resolutions? No matter your answer, the IALC suggests adding one to your list: become a “Master of Retirement.”

The retirement crisis has become a staple in our country’s rhetoric, with one in five Americans admitting they have nothing saved for retirement at all. The IALC is here to help you not fall into this statistic, preparing you with tools and information, as you work to create peace of mind when it comes to retirement planning.

As you begin mapping out your retirement preparedness resolutions, play IALC’s new quiz-style game, Master of Retirement to test your knowledge and see where your retirement IQ stacks up. Discover what you already know to gain a better understanding of your retirement needs. This will ultimately allow you to craft those resolutions and take control of your financial future. But, first, preview the game to see your current retirement savviness:

Q: Which of the following retirement products can provide guaranteed lifetime income and protect you from fluctuations in the market?

  1. 401(k)
  2. Fixed indexed annuity
  3. CD
  4. Pension

The Answer: B! Fixed indexed annuities can help offer a steady income stream throughout retirement. Learn more about the benefits of fixed indexed annuities by exploring our website.

Q: What do most Americans, ages 55–68 and who plan to retire in the next five years, wish they had done differently with their finances when they were younger? 

  1. Invested more of my salary in a 401(k) match
  2. Invested my money in a more diversified portfolio
  3. Started saving for retirement at an earlier age
  4. Talked to a financial advisor about my retirement options sooner

The Answer: C! Those nearing retirement cite they wish they would have started saving for retirement earlier. Test out the IALC’s retirement calculators to determine how well you’ve prepared and see what you can do to improve your retirement outlook. To ensure you have enough saved throughout your golden years, reevaluate your preparedness on an ongoing basis. Remember changes in economic climate, inflation and achievable returns will impact your plan.

Q: How many Americans have a written retirement plan?

  1. Three in four Americans
  2. One in three Americans
  3. One in 15 Americans
  4. Nine in 10 Americans

The Answer: B! Only one-third of middle-class Americans (ages 40 to 59) have a written retirement plan, according to a recent study by Wells Fargo. The IALC is dedicated to helping Americans understand the importance of creating a retirement plan that will carry them through their golden years. Fixed indexed annuities help to offer a guaranteed stream of income, no matter how long you live. To learn more, check out the IALC’s Smart Buyer Checklist to see if the product fits your financial portfolio needs.

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Financial Certainty in Retirement is Possible. Executive Director Jim Poolman Shares Simple Steps to Take in Forbes Article.

Not sure financial certainty in retirement is possible? You’re not alone in these feelings.

In a new article published by Forbes, the IALC’s Executive Director, Jim Poolman, writes how removing some uncertainty surrounding retirement is indeed an obtainable goal all Americans can strive to achieve.

Poolman shares three simple steps to help you increase your financial knowledge and confidence, helping you prepare for a post-work world. There may be endless uncertainty around the tax code, health care and Social Security, to name a few, but there doesn’t have to be around retirement.

Check out Poolman’s article ‘These Are Uncertain Times, But Reaching Certainty in Retirement Is Still Possible.’ Take control of your financial future and start on the road to a financially stable retirement today.

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IALC Q4 2017 Newsletter

222

Will Your Retirement Savings Last As Long As You Live?

More than 70 percent of Americans are concerned they may outlive their retirement savings. Many do not have money to last the long haul. Even more startling is the fact one in five Americans have absolutely nothing saved for retirement at all.

Starting to save now and creating a plan for lifetime income, no matter how long you live, are important retirement planning first steps. To get in the right frame of mind, play the newly launched “Master of Retirement” game, which highlights helpful retirement facts and thought-provoking questions. Then, after gaining some general retirement knowledge, dive into planning tools like these free calculators to work on your personal retirement plan.

Are You a Master of Retirement?

From hard-hitting statistics to fun retirement trivia, everyone has the chance to rise in the ranks from novice to master. Don’t worry about selecting the wrong answer.

The game will not only serve up the right answer, but also provide you with more information, so you can learn along the way.

Be sure to share your score on social media to challenge friends and family to play and start the conversation around proactive retirement planning.

Consider talking to a financial professional. Having your questions answered will help you achieve your long-term financial goals.

Blogs You Might Have Missed

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.

Read the full blog here.

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. Here are three key questions…

Read the full blog here.

DO YOU LOSE THE BALANCE OF AN ANNUITY IF YOU 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. You can even choose to set up your FIA as “joint life” in order to provide you and your spouse guaranteed income for life, no matter how long each of you live.

Read the full blog here.

News You Can Use

Buzzfeed: Here’s A Game That Teaches Retirement Planning
Once upon a time, we typed numbers into our trusty calculator to add and multiply the nest egg needed for our golden years.Americans expect to retire at age 66, according to Gallup. But according to a new study by Indexed Annuity Leadership Council (IALC), 22 percent of Americans are not familiar with the most routinely-used retirement products that allow them to diversify their portfolio.

Read the full article here.

Huffington Post: Three Myths Blocking Your Path To Retirement
With 10,000 baby boomers retiring each day, an adequate nest egg is more important than ever. And so is the ability to trade instant gratification for financial discipline. But new data shows that a majority of Americans are at-risk of an unstable retirement. According to a new study from the Indexed Annuity Leadership Council (IALC), only nine percent are focused on diversifying their portfolio, which is essential to managing financial risk heading into retirement.

Read the full article here.

Forbes: These Are Uncertain Times, But Reaching Financial Certainty In Retirement Is Still Possible
Today, Americans are faced with endless uncertainty, like what’s ahead for the tax code, health care and Social Security, to name a few. But removing some uncertainty surrounding retirement is an obtainable goal all Americans can strive to achieve.

Read the full article by Jim Poolman here.

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Take the Fast Track to Become a Master of Retirement: Three Hints for Playing IALC’s New Game

Last week, the IALC launched its interactive game Master of Retirement. Shocking new data points, found from IALC surveys, power the game’s questions and demonstrate the need to offer approachable and light-hearted ways of boosting Americans’ confidence when it comes to saving for retirement.

In the coming days, we will share tips to help you rise in the retirement ranks. Start by checking out the below hints to lift your Master of Retirement score and increase your retirement planning IQ along the way.

The Question: What is a reason some people choose a fixed indexed annuity?

  1. Missing a steady paycheck and income for life
  2. Having the principal protected against volatile markets
  3. Helping to moderate risk in a financial plan
  4. All of the above

The Answer: D! While half of Americans say they will miss receiving a steady paycheck in retirement the most, moderating risk in a financial plan and protecting the principal are also top of mind. Fixed indexed annuities can provide a guaranteed lifetime income stream, while offering balance and minimizing risk in your retirement plan.

The Question: What percentage of men are “very confident” in their ability to fully retire with a comfortable lifestyle?

  1. 100 percent
  2. 19 percent
  3. 1 percent
  4. 50 percent

The Answer: B! Only 19 percent of men are “very confident” in their ability to fully retire with a comfortable lifestyle, compared to just 10 percent of women.

The Question: How many people would not be able to pay an unexpected bill of $500 or more?

  1. About 20 percent
  2. Almost 100 percent
  3. About 90 percent
  4. Everyone can pay an unexpected bill

The Answer: A! According to a survey by the IALC, 22 percent of Americans report they wouldn’t be able to pay an unexpected bill of $500 or more without borrowing money.

As you play the game, remember just like with actual retirement planning, you are balancing risk and reward, while never putting all your financial eggs in one basket.

Interested in more tips for saving for your golden years? Stay tuned for other Master of Retirement tips, right here on our blog, and visit us on Facebook and Twitter for daily retirement insights brought to you by the IALC. Happy playing!

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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

222

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 ORC International’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 ORC International’s online panel in April 2017, among n=1000 adults (ages 18 and over).

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