Many Americans have the same big retirement goal – to leave the workforce and have enough money to last the rest of their life. That means amassing enough wealth to be able to sustain their lifestyle without going to a job for a paycheck.
While some achieve this goal, many are on the edge of financial preparedness for retirement. And many worry about running out of money. The majority of Americans (61%) said they are more afraid of running out of many than they are of death, according to the 2023 Annual Retirement Study.*
Once retired, they will need to strategically create an income strategy that will provide enough income while being sensitive to market risks. These clients may want to consider incorporating risk mitigation strategies into their retirement income plan.