We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (17,801)
  • Industry Conferences (3)
  • Industry Job Openings (3)
  • Moore on the Market (207)
  • Negative Media (139)
  • Positive Media (73)
  • Sheryl's Articles (657)
  • Wink's Articles (268)
  • Wink's Inside Story (239)
  • Wink's Press Releases (101)
  • Blog Archives

  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • August 2006
  • Americans Split on Biggest Concern in Retirement: Running out of Time vs. Running out Money

    November 2, 2021 by TIAA

    NEW YORKOct. 27, 2021 /PRNewswire/ — Nearly half of working Americans worry about running out of money in retirement (45%), while the rest (55%) say running out of time to do what they want in retirement is a bigger concern, according to TIAA’s 2021 Lifetime Income Survey.

    “Retirement can evoke many conflicting emotions,” said Doug Chittenden, head of Client Relationships at TIAA. “Feelings of excitement and celebrating a successful career can be married with the genuine anxiety of outliving your savings or concern about not having enough time to do everything you’ve dreamed about. Creating a retirement plan that includes guaranteed lifetime income can offer the freedom to enjoy retirement and give you peace of mind.”

    The 2021 TIAA Lifetime Income Survey was fielded using an online survey of 1,001 working American Millennials, Gen Xers, and Boomers. Additional findings are available here.

    Achieving financial confidence in retirement 

    While a little more than half of working Americans think they are on track with their savings to retire when they want, only 42% are highly confident they will have enough in retirement savings to fund a 20-year retirement. This falls to 32% when looking at a retirement of 30 or more years.

    The survey found that those who have guaranteed lifetime income through an annuity feel they will be financially secure in retirement (83%). They are also significantly more confident that their savings will last: 64% of those with guaranteed lifetime income are confident that their savings will last through a 30+ year retirement.

    About 7 in 10 believe having guaranteed lifetime income provides certainty around essential expenses, allows for spending flexibility, and makes knowing how much to save easier.  Six in 10 agree it is difficult to know how much income they will earn from the stock market, and two-thirds believe that guaranteed lifetime income can protect against this volatility.

    Roadblocks to readiness and simple fixes

    Contributing a portion of your savings to TIAA Traditional consistently over a working career can significantly increase payments in retirement vs. contributing a lump sum at the point of retirement.i However, the survey identified numerous roadblocks to saving more for retirement, such as the 30% of respondents who said the pandemic had harmed their financial health.

    Almost half of workers (45%), and 66% of Millennials, believe if they simply had help creating and managing a budget, they could save more for retirement.

    Meeting with a financial advisor is a great first step to tackle goals to help achieve financial confidence. A financial advisor can help create a budget while also focusing on long-term goals like retirement planning.

    Along with matching a portion of an employee’s contributions into a retirement plan, employers also often offer financial planning and education through third parties.

    About TIAA

    TIAA is a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions.  It is the #1 not-for-profit retirement market provider,ii paid more than $3.6 billion to retired clients in 2020 and has $1.3 trillion in assets under management (as of 6/30/2021).iii

    This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.

    Annuity account options are available through contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts are not guaranteed and will rise or fall based on investment performance.

    You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161 or go to www.TIAA.org/prospectuses for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing.

    Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

    Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability.

    TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.

     ©2021 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017

    i Source: TIAA Annuity Center of Excellence, based on a study that compared the amount of initial lifetime income that would have been received by two hypothetical participants beginning lifetime income, for each of the 334 months from January 1, 1994, through October 1, 2021. The two hypothetical participants are the same age (age 67) and they select a single-life annuity with a 10-year guarantee period using TIAA’s standard payout annuity. The career contributor made level monthly contributions to TIAA Traditional under the Retirement Annuity Contract over a 30-year career prior to their retirement date. The new contributor transferred the same final accumulation as the career contributor to TIAA Traditional shortly before selecting lifetime income. Over the study period, the career contributor’s initial lifetime income exceeded that of the new contributor in 324 of the 334 retirement months, with an average lifetime income advantage of 14.5%. Their biggest advantage was 29.8% and their smallest advantage was -2.9% (i.e,. a disadvantage). Over the study’s most recent decade, the career contributor’s initial lifetime income exceeded that of the new contributor in all 120 retirement months, with an average lifetime income advantage of 22.4%. Their biggest advantage was 29.8% and their smallest advantage was 12.8%. In the study’s most recent month, the career contributor’s initial lifetime income exceeded that of the new contributor by 17.6%.

    ii Based on data from 56 providers in PLANSPONSOR magazine’s 2019 DC Recordkeeping Survey, combined 457, 403(b) and money purchase plan data as of December 31, 2018.

    iii Based on approximately $1.3 trillion of assets under management across Nuveen affiliates and TIAA investment management teams as of 6/30/2021.

    Facebook

    Twitter: @TIAA

    LinkedIn

    SOURCE TIAA

    Related Links

    http://www.TIAA.org

    Originally Posted at CISION PR Newswire on October 27, 2021 by TIAA.

    Categories: Industry Articles
    currency