The Retirement Income Reference Book (Fourth Edition) provides a wealth of facts and insights at your fingertips. Use it to set strategy, make presentations, or conduct training.
Industry IssuesThe Retirement Income Reference Book provides a comprehensive view of the changing dynamics of the retirement market. Over the next decade and beyond (the trend is already set) there will be a huge migration of Americans and their assets to retirement. For many, two most important questions will be “How can I have a financially secure retirement?” and “How can an advisor help me?” Understanding the retirement market is critical to innovate new products and services. You can to turn to LIMRA Secure Retirement Institute for unbiased, credible retirement industry knowledge in order to help their clients attain a secure retirement.
This report features graphs and charts illuminating valuable findings, including:
- There are already 50.5 million retirees in the United States, and that will increase to 72 million by 2035. Nearly half of Americans currently retire between ages 61 and 65.
- The demand for guaranteed lifetime income is huge: nearly $780 billion. Interest in creating guaranteed income remains high for pre-retirees.
- The longevity of Americans keeps improving. One out of four 65-year-old men of average health will live to age 93 and 1 out of 4 65-year-old women will live to age 96.
- In 8 out of 10 cases, couples are likely to have long lives and could maximize Social Security benefits by delaying claims.
- Just having an advisor or having an annuity is not enough to build retirement confidence. A formal income plan is the best stimulus for and predictor of retiree confidence levels.
- Women buy the majority of single-life guaranteed lifetime income annuities.
- Retirees are more confident when they have an annuity.