Hurt by inflation, Americans yearn for pensions in retirement. One answer may be annuities.
March 25, 2024 by Medora Lee
Inflation continues to ravage Americans’ savings, making them nostalgic for a retirement benefit of yesteryear: the pension.
Ninety percent of Americans saving in a company retirement plan, such as a 401(k), worry it doesn’t provide a reliable stream of income that can withstand the financial strains posed by inflation, which hit a 40-year high in 2022, according to a survey of 1,003 plan participants last fall by Greenwald Research. Seventy-six percent, up six percentage points from a year ago, worry they’ll run out of money, and 83% now want guaranteed lifetime income, the poll by the independent researcher said.
Click HERE to read the full story via USA Today
Wink’s Moore on the Market: Medora Lee with USA TODAY is writing GOOD things about annuities.
People are worried about running out of money in retirement.
Annuities allow you to build your own pension.
Who wouldn’t want a little guaranteed lifetime income in their retirement plan? -sjm
