When it comes to retirement, what is most important to you? If you are like nearly nine in ten Americans, “saving enough to have financial peace of mind” trumps “accumulating as much wealth as possible” as the most important financial goal in retirement.
According to a 2013 Merrill Lynch Retirement Study, retirement priorities of both those nearing retirement and those already living in it are shifting away from the priorities held by retirees in previous decades. Whereas previous generations sought to build the biggest nest egg, expectations of the next batch of retirees have been taken down a few notches due to post-recession setbacks and the costs associated with living longer. This new reality has caused those approaching or in retirement to seek more conservative financial strategies that emphasize reliable income sources over the desire for higher, but riskier returns.
This shift is one of the reasons fixed annuity products are gaining popularity as a way to help prepare for and fund retirement. In addition to providing a stream of guaranteed income that you can depend on and won’t outlive, fixed indexed annuities are unique in that you will never lose money in this product—even when the economy or the markets perform poorly.
To learn more about whether or not a fixed indexed annuity could be the right product for you, check out our newest educational video.