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Living comfortably in retirement is indeed possible. However, many Americans fail to develop a strategic plan that allows stability in their golden years to be reality.

In fact, the Indexed Annuity Leadership Council (IALC) commissioned data that found insights into American’s retirement savings – or lack thereof. Nearly 90 percent of Americans are not very confident in their retirement savings situation, with 56 percent admitting they are unsure if their retirement savings will last throughout their golden years, and 1 in 5 sharing they have nothing saved for retirement at all.

Ensure you have the right strategies in place to help build a stable retirement. This is not a one-size-fits-all type of process. When planning, it is important to find a retirement equation to fit your goals, needs, and lifestyle. However, there are universal tips to keep in mind as you map out a plan.

Consider the following:

1. Remember the time is now.
When beginning, or adjusting, your retirement plan, there is no better time to start then the
present. We understand taking the first step can often be intimidating and overwhelming, as
retirement takes careful planning. However, there are plenty of resources at your fingertips to make
it easy to begin now. Don’t put it off because you do not know where to start. Remember, planning is
the first step of the process.

2. Seek help from a financial professional.
While friends and family are great for putting you at ease and answering your questions, we
recommended also seeking guidance from a professional. A financial professional has the knowledge and
training to help you review your current assets, prepare for your future, establish short and long-
term goals, and provide you with all available savings options.

3. Determine how much additional retirement income you will need.
When deciding how much savings you will need, don’t forget to assess your current portfolio. Before
adding additional products, calculate the rate of return for each of your current assets, such as
401(k), Social Security, and/or pension plans. From there, consider your fixed monthly costs (ex:
housing, food, transportation), discretionary costs (ex: activities, hobbies, travel), and projected
costs (ex: medical expenses, inflation, taxes). This will give you a total to strive toward. Our
retirement calculators can help, especially those that calculate propensity for risk and determine
how external factors, like inflation, may influence savings plans.

4. Create balance in your retirement portfolio.
IALC commissioned data found only nine percent of Americans are focused on diversifying their
portfolio. It may be hard to create diversity, when you are unsure what products to add to your
portfolio. One often overlooked product is a fixed indexed annuity (FIA), a product that helps
protects savings from external factors and can help ensure a steady stream of income for retirement.
Regardless of market swings, a portion of your retirement savings is always protected, thanks to
FIAs. Mitigating your portfolio, with both safe and riskier products, is key to balancing risk and
reward in the market.

With these considerations in mind, you are on the path to achieving the retirement equation for stability.

Retirement Equation for Stability