Worried inflation might eat up your retirement savings? You’re not alone. A full 81% of people polled by Morning Consult are stressed they may not have enough money to last through retirement. Not surprisingly, the poll also found 54% are considering ways to make sure they have regular monthly income after they quit working. The way they intend to do that isn’t through becoming a greeter at Walmart (not that there’s anything wrong with that). They’re considering annuities.
@collinjamessterling Lifetime income with Fixed Indexed Annuity #annuity #fixedindexedannuites #retirement #IRA #rothira #lifetimeincome #greenscreen ♬ Blade Runner 2049 – Synthwave Goose
The good news is that adding annuities to your retirement savings has gotten easier. Because the Secure Act has been passed by Congress, it’s become easier for employers to offer annuities as a retirement savings choice in 401(k), 403 (b), and other plans.
Fidelity (the largest provider of 401(k) plans), for example, is letting some investors convert some retirement savings into fixed annuities that will provide regular payments throughout retirement — no matter how long retirement might be.
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