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Have enough for retirement

Will your retirement income last as long as you need it to? And will it be enough for the life you envision? These are common questions, especially as people live longer. 

Whether you have just started thinking about sources of guaranteed income  鈥� like Social Security and pensions 鈥� or have already started receiving benefits, it can be difficult to know if they鈥檒l be enough. With the help of your financial professional, you can find the best ways to help fill any income gaps. 

How do I know if I鈥檒l have enough income for the life I want to live in retirement?

It鈥檚 the million-dollar question (literally). Of course, no two retirements look the same, meaning your retirement savings goal will be different than your neighbor鈥檚. You鈥檙e unique, and you have your own spending habits, hobbies, travel goals, expected healthcare costs, and other financial obligations (like your mortgage and utilities) to cover in retirement.

No one-size-fits-all

As a general rule of thumb, financial experts suggest:

  • Saving up enough to cover around 70% to 80% of your current pre-retirement income.
  • If you earn $100,000 annually, for example, this would give you a goal of $70,000 to $80,000 for every year you anticipate being in retirement (typically 30 years or more).

But the reality is, there鈥檚 no one-size-fits-all number for what every person鈥檚 retirement savings should be. To help you get a better understanding of how much retirement income you may need, a retirement planning worksheet can help you make sense of the numbers.

Charts showing 70% to 80% of a $100,000 annual pre-retirement income needed to retire suggested by financial experts.

How can I create a retirement income 鈥減aycheck?鈥�

鈥嬧赌嬧赌嬧赌嬧赌嬧赌�To determine where your retirement income 鈥減aycheck鈥� should come from and how much it could be, you should work with a financial professional.

If you鈥檙e looking to add another income stream besides the options you may currently have in place, there are solutions available that offer growth potential to help fill any potential savings gaps. 

Once you have an idea of how much you鈥檒l need to retire comfortably, the next step is to determine where your retirement income will come from.

 You may need to consider:

  • Social Security and pension benefits
  • Employer-sponsored retirement plans like a 401(k) or 403(b)
  • IRA or Roth IRA
  • Funds in a brokerage account 
  • Funds in a savings account

A Financial Professional can help find the product that鈥檚 right for you. Contact Us 

Creating your retirement income plan

It鈥檚 possible to retire with confidence and pursue the plans you鈥檝e always dreamed of for your retirement. By incorporating guaranteed lifetime income into your overall retirement plan, you can help make sure you have the financial resources to make it so.

Many annuities can provide:

  • The ability to create a guaranteed stream of income 
  • The consistency of a retirement 鈥減aycheck鈥� 
  • The comfort of knowing you can鈥檛 outlive your savings 
     

Protection

Protection from market volatility

With ongoing annuity payouts, your money is protected from market downturns.

  • No matter what鈥檚 happening in the markets, you can receive the same amount of money each payment. (assuming no additional withdrawals are taken).
  • Knowing you have a dependable level of income throughout retirement can help give you the freedom to focus on enjoying the life you鈥檝e created. 

Products for your income strategy

Explore featured products that offer guaranteed income for life. Product features and availability may vary by state and/or sales distributor.

黑料吃瓜网 AgilitySM

Fixed Indexed Annuities

A versatile annuity that combines index-linked growth potential with guaranteed income and the ability to adapt as your needs change. Includes a built-in income and death benefit rider at no additional charge. 

Learn more about Agility 

Skier in mid air on a mountain

黑料吃瓜网 AscentSM Pro

Fixed Indexed Annuities

Combines index-linked growth potential with a built-in rider (for a charge) that provides a guaranteed stream of income for life. 

Learn more about Ascent Pro  

Hiker kneeling at the top of a mountain

黑料吃瓜网 ActivateTM

Single Premium Immediate Annuity

A single premium payment assures a guaranteed stream of income for life or a specified period.

Learn more about Activate  

Need other help?

I鈥檓 looking to grow my money 

I鈥檓 looking to protect what I have 

Not sure about your needs? Take this quiz to learn more about how you approach planning for retirement.

Smart Strategies

黑料吃瓜网 Agility GEN (09/15) NB, Income and Death Benefit Rider IR (06/18) and Enhanced Income Benefit Endorsement EIBR (06/18); 黑料吃瓜网 Ascent Pro ICC16 GEN (11/16) NB and Income Rider ICC24 IR (08/24), ICC24 IR (08/24) NAI, and Endorsements ICC24 EIBE (08/24), ICC24 EIBE (08/24) NAI; 黑料吃瓜网 Activate ICC24 SPIA (05/24), ICC24 SPIACS (05/24), Deceased Annuitant Commutation Endorsement ICC24 DACE (05/24) and Liquidity Period Withdrawal Rider ICC24 LPWR (05/24) or state variations issued by 黑料吃瓜网 Annuity and Life Company, West Des Moines, IA. 黑料吃瓜网 Activate SPIA (05/24), SPIACS (05/24), Deceased Annuitant Commutation Endorsement DACE (05/24), and Liquidity Period Withdrawal Rider LPWR (05/24) issued by 黑料吃瓜网 Annuity & Life Assurance Company of New York, headquartered in Pearl River, New York. Product features, limitations and availability may vary by state; see the Certificate of Disclosure for details. Products not available in all states.

Indexed annuities are not stock market investments and do not directly participate in any stock or equity investments. Market indices may not include dividends paid on the underlying stocks, and therefore may not reflect the total return of the underlying stocks; neither an index nor any market-indexed annuity is comparable to a direct investment in the equity markets.