RADNOR, PA — According to a recent study from Lincoln Financial Group (NYSE: LNC), more than 60% of retirees would like to go back and plan differently for their retirement if they could.2 Overwhelmingly, retirees wish they’d started saving earlier and saved more for retirement. Other “would’ve, could’ve, should’ve” reflections include choosing investments that provide a steady stream of income, with 63% reporting they’d like to receive an automatic paycheck from their retirement assets; and planning better for the unexpected like inflation and volatility, with 85% interested in investing in solutions that protect them from losses during market volatility.
Lincoln Financial released this new data just ahead of Annuity Awareness Month, which is recognized through June, to reinforce the role annuities can play in holistic financial planning as tools to help provide lifetime income and protect and grow retirement savings no matter how the market performs.
Annuities are investments issued by insurance companies that can help investors build savings, with options to ensure a continued income stream, like a “retirement paycheck,” that will last throughout their lifetime. There are many different types of annuities and diverse optional benefits that can be used to add customization based on an investor’s unique wants and needs. Investors can learn more about annuities by accessing educational resources from the Alliance for Lifetime Income, or by visiting LincolnFinancial.com to be connected with a financial professional.
“There aren’t many opportunities for a do-over when it comes to retirement planning. Yet, two of the major concerns that retirees voiced in our study – guaranteed income and protection from loss – can be addressed with annuities,” said Tim Seifert, senior vice president and head of Retirement Solutions Distribution at Lincoln Financial. “With a record number of Americans set to retire next year3, Annuities Awareness Month is a good time for investors to work with a financial professional to understand how and why incorporating annuities into their financial strategies can help them retire confidently without regret.”
Lincoln Financial offers a broad and innovative portfolio of annuity solutions, including the top-selling indexed variable annuity, Lincoln Level Advantage®, which has helped more than 115,000 investors protect and grow their portfolios since launching five years ago.
1 Source: Lincoln Financial, Consumer Sentiment Tracker, 2023.
2 Source: Lincoln Financial, Consumer Sentiment Tracker, 2023.
3 Source: Lincoln Financial & the Alliance for Lifetime Income, “America’s Peak 65 milestone,” 2022.
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