To help jump-start retirement planning, the Indexed Annuity Leadership Council (IALC) has released the first video in a three-part series designed to educate Americans about getting ready for life after work. Called "Game Ready," the video series is part of an initiative that encourages Americans to get a check-up for financial fitness.
Nearly 80 percent of Americans surveyed in 2018 report their number one goal for retirement is a stable income they can't outlive. IALC's videos shed light on retirement tools that can provide guaranteed lifetime income, such as fixed indexed annuities.
"The best option for retirement is a diversified portfolio," said Jim Poolman, Executive Director of the IALC. "We hope to use these videos to help pre-retirees learn about options like fixed indexed annuities, which can be combined with Social Security and other income sources to round out a retirement plan. This helps boost confidence, knowing they are prepared for life after work."
Game Ready is an initiative that encourages Americans to treat financial fitness just like physical health. The educational video series aims to promote retirement planning by providing simple tips to examine financial habits, explore potential benefits and pitfalls, develop a set of goals, and discover useful retirement planning tools and options.
Most pre-retirees understand they need to plan for retirement, but thinking about the future can often lead to anxiety or even embarrassment, causing them to push off planning. Survey data from 2017 shows nearly 90 percent of Americans are not very confident in their overall retirement savings situation, and many baby boomers haven't calculated the amount of money they need to live comfortably during their post-working years.
"The Game Ready series insists it's okay to be nervous about the future, but just as heading to the doctor each year can ward off unnecessary physical ailments, an annual financial check-up can prevent any money-related surprises once salaries stop," said Poolman. "We hope these videos can be useful for anyone, no matter how near—or far—they are to retirement."
Retirement Ready, the first video in the Game Ready series, can be viewed here.
About the Indexed Annuity Leadership Council
The Indexed Annuity Leadership Council (IALC) brings together a consortium of life insurance companies with a commitment to providing consumers, the media, regulators and industry professionals factual information about the use of fixed indexed annuities. Namely, that these products provide a source of guaranteed income, principal protection from market declines, and interest rate stability in retirement as well as balance to any long-term financial plan. https://fiainsights.org/