An advocate for life insurers, in a new research article , raised concerns about the ability of future retirees to cover their basic living expenses in retirement if they cannot secure more sources for lifetime-guaranteed income.
Pre-retirees—workers within 10 years of their of anticipated retirement dates—are less likely than retirees to say they will be able to cover basic living expenses in retirement with lifetime-guaranteed income sources, LIMRA Secure Retirement Institute research shows.
“[The pre-retiree cohort] will need to figure out proactively how to create sustainable income, with a higher likelihood of failure than what their parents are facing,” says Matt […]
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