A Retirement Crisis and a Solution
No less of an authority than the World Economic Forum (WEF) has confirmed the obvious: there’s a retirement crisis in this country that is only set to get worse. A WEF report from June 2019 compares several major economies- the United States included- and it comes up with a conclusion that’s beyond partisan politics and finger-pointing. There’s a $28 trillion retirement savings gap in this country that will become a $137 trillion savings gap by 2050.
What does that mean for the average American? It means that the average man will outlive his savings by 8.3 years and the average woman by 10.9 years. In a time where companies are shifting responsibility onto individuals to create their own retirement glide path, most people struggle to figure out how to grow savings and convert them into a lasting financial retirement plan.
Armed with that truth, each of us can plan to take action.
We can save more for retirement, of course, but just as importantly, we can figure out how to create income streams that can last as long as we do. We believe that annuities can be an important part of the equation. Every individual will differ but a successful retirement outcome should create adequate income, sustainable income, and flexible income.
Schedule a call now and decide if annuities can be part of the retirement solution for you or your clients. At ALEX.fyi we offer a highly curated selection of best-in-class annuities from some of the best names in the insurance business.