Retirement Savings Struggles Plague Americans of All Ages

A new survey from the Alliance for Lifetime Income (ALI) reveals that more than half of Americans close to retirement or recently retired are not prepared for retirement. The retirement crisis is due to the shift from pensions to personal savings, and the fact that many Americans are at risk of running out of money in their retirement. The survey also shows that consumer demand for annuities has skyrocketed to an all-time high amid concerns about unprecedented market volatility and falling retirement investments. Annuities can be a valuable part of a diversified portfolio and may be a good choice if Social Security isn’t enough to cover basic expenses, you expect to live a long time and could potentially outlive your savings, or you want to reduce risk and protect part of your portfolio.