How to help clients prepare for a longer-lasting retirement

Most people would like to live a long life and enjoy a lengthy retirement. Yet, a long life can pose risks to retirement.

Retirees are living longer, more fulfilling, and more active lives in retirement. The average life expectancy at age 65 continues to increase, and people who retire today often live for another 20 to 25 years after leaving the workforce. That’s 20 to 25 years’ worth of living expenses that need to be paid from retirement savings.

Many clients are afraid of this risk. Nearly two in three Americans (63%) in the 2024 Allianz Annual Retirement Study* said they worry more about running out of money than death. Along with the fear of outliving their money, many Americans worry about market volatility and are nervous to invest.

To live the retirement they want, clients need to address the risk of longevity to their strategy.


How can you make sure your clients have enough money for retirement – without sacrificing too much?

Your clients need a thorough retirement strategy that addresses the risks of a longer retirement, persistent inflation, market volatility, and increasing medical costs.

Many Americans think increasing retirement savings and reducing their current spending to save more are top solutions to address their concern about running out of money, according to the Annual Retirement Study. But there are more solutions you can present to your clients to help ensure that their money lasts their lifetime.


Reliable income sources are essential for a long retirement

A comfortable retirement needs multiple sources of income that can last a lifetime. Annuities are one option for clients seeking to add another source of reliable income to their retirement strategy. In fact, more than one in three (35%) Americans said a top solution to their fear about running out of money was to put a portion of their retirement savings in a product that provides lifetime income payments.

Income annuities can offer a stable, dependable source of income that cannot be outlived, and some even offer increasing income potential through an income benefit rider that may be either built in to the contract or optional and at an additional cost. Annuities provide a level of protection for retirement savings and help address risks, like longevity, that can derail a retirement strategy.

You can help clients live the retirement they want by addressing the risk of longevity to their strategy.


Talk to your clients about the risk of longevity 

We have created materials that you can use with your clients – including a client seminar with a customizable invitation and other supporting materials.

*Allianz Life conducted the 2024 Annual Retirement Study online survey in February and March 2024 with a nationally representative sample of 1,000 individuals age 25+ in the contiguous U.S. with an annual household income of $50k+ (single)/$75k+ (married/partnered) OR investable assets of $150k+.