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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