Why is this important to me?
Retirement may seem like an elusive dream that you don’t believe you’ll ever reach. Or maybe you think that because of your age, you don’t need to start saving now. The Participant EffectSM is here to tell you that you CAN achieve your retirement goals and it’s NEVER too early or too late to start.
You’ll be responsible for a large portion of your retirement income. For generations, retirees relied heavily on Social Security and pensions to pay their bills in retirement. But today most Americans must count on their own personal savings and investments for a greater share of their retirement income.
You’ll need your retirement savings to last a longer period of time. Thanks to today’s healthier lifestyles and medical advances, Americans are living longer than ever before in history. In fact, there's a 50% chance that one member of an average, healthy 65-year-old couple will live to be 92 years of age. So a typical 65-year-old retiree may need retirement income for 30+ years, even more if she/he retires early1.
The longer you live, the more inflation will deflate your buying power. Just a 3% annual rate of inflation can cut your buying power in half in 25 years. So it’s important that you not only save more, but also earn more on your savings—at least enough to outpace inflation over time.
These are just a few reasons why we encourage you to get your retirement savings and financial wellness on track now so that your resources will sustain you over a long and rewarding retirement. We know that planning for retirement can seem overwhelming at times. With so many investment options available for retirement today, you may be wondering where to start – that’s where The Participant EffectSM can help.
With the right information and personal guidance, you can gain the financial confidence you need to take control of your retirement. Schedule your appointment today!
1Source: Annuity 2000 Mortality Table; Society of Actuaries. Figures assume a person is in good health.