Skip to main content

Sponsored Content

Face Your Financial Fears

07/27/2016 01:30 ● Published by Family Features

Retirement is supposed to be a reward for decades of hard work, but if you haven’t planned well, the milestone may be a dark cloud on your horizon. In fact, new data shows that nearly 50 percent of Americans are most afraid of outliving their income or the inability to maintain their current lifestyle, and nearly 20 percent are worried about having enough money to cover health care expenses.

The research, released by the Indexed Annuity Leadership Council (IALC), also found that despite these very real fears, Americans are failing to take action to address them. For example, a quarter of Baby Boomers, the age group closest to retirement, have less than $5,000 saved for retirement and nearly one in five Americans have no idea how much they’ve saved.

The findings indicate that Americans are afraid of the unknown when it comes to managing their money and retirement. While you can budget for leisure and travel, health care expenses and life expectancy are unpredictable.

“Americans are living longer than ever, so it’s no surprise that the No. 1 retirement fear is that they’ll run out of money in their final years,” said Jim Poolman, executive director of the IALC. “Thankfully, there are strategies and products out there that can help you create sufficient retirement income to last throughout your lifetime, which can help with this crippling fear.”

To take control of the uncertainty and create peace of mind when it comes to retirement, here are some simple steps you can follow:

Make a budget.
Those who plan for retirement are estimated to save three times more than those who don’t. Take into account that your expenses may increase during retirement, specifically for items such as health care and travel. Also, be sure to revisit your budget periodically to make adjustments for new circumstances that affect how much you need to support the retirement lifestyle you desire.

Balance is key.
Investing in a 401(k) is a great way to start a retirement portfolio, but putting all your eggs in one basket is a common mistake. One method to provide balance to your retirement portfolio is to add some more conservative, low-risk products, such as Fixed Indexed Annuities (FIAs), which protect your principal regardless of market ups and downs. According to the survey, FIAs are an attractive choice for consumers, with 45 percent of Americans surveyed interested in this type of retirement product.

Plan to adjust.
A savings strategy that makes sense today might not fit your needs in five, 10 or 20 years. Factors like market volatility, changes in your career or personal life, can impact the amount you’re able to save and how much you anticipate needing when you reach retirement age.

Monitor the balance.
While it’s not as critical to track the ups and downs of your portfolio in your younger years, the closer you are to retirement, the more important it becomes to be aware of your account values. Your level of risk should reflect your age and your retirement goals. Generally, the younger you are, the greater risk you may be able to tolerate because market cycles generally rebound losses over time. When the window of time before retirement is tighter, you may not be able to recover from a dip as easily.

Small changes count.
Even seemingly little adjustments can have a noticeable impact on your finances over time. For example, packing your own lunch and giving up an evening out with friends once weekly or monthly will allow you to direct that money to a retirement account instead. Also, be sure to pay your credit card bills on time to avoid fees that not only affect your credit rating but deplete funds that could be directed to retirement savings.

Make it automatic.
Set up scheduled transfers so you don’t forget or aren’t tempted to spend the money you planned to save. Treat your retirement account as a debt you owe and be sure to pay yourself every month. If necessary, meet with a financial advisor who can help you determine a strategy to pay down debt without sacrificing your retirement planning.

Understanding Fixed Indexed Annuities
In today’s economy, experts recommend ensuring you have a diversified retirement plan and balanced financial portfolio that includes conservative, low-risk products that are less impacted by stock market volatility.

According to the Indexed Annuity Leadership Council’s research, 45 percent of Americans are interested in retirement products, such as Fixed Indexed Annuities, that offer steady lifetime income and protect your principal even if the stock market goes down.

Find more tips and tools to guide your retirement planning at FIAinsights.org.

Photo courtesy of Getty Images

Sponsored by Indexed Annuity Leadership Council

Family Features Family Features Lifestyle
  • Holiday Market

    12/16/2017
    10:00AM — 06:00PM

    Saturday Market’s Holiday Market takes the best things about the Saturday Market, bringing them i...


  • Toys! Historic Playthings from Lane County

    12/16/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Tree & Tea Party

    12/16/2017
    01:00PM — 03:00PM

    Join us for a family-paced winter wander through Hendricks Park’s tall trees. Post walk, enjoy te...


  • Nutcracker Remixed

    12/16/2017
    02:00PM — 04:30PM

    What do you get when you take the classic tale of the Nutcracker and give it a modern twist? The ...


  • Free Kids Table Tennis

    12/16/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • Nutcracker Remixed

    12/16/2017
    06:30PM — 09:00PM

    What do you get when you take the classic tale of the Nutcracker and give it a modern twist? The ...


  • Singin' In The Rain

    12/16/2017
    07:30PM — 10:00PM

    You remember the plot! You love the characters! You know “the song”! You’ll adore the sparkling, ...


It looks like we don't have any events for this date. You can always add an event.

  • Holiday Market

    12/16/2017
    10:00AM — 06:00PM

    Saturday Market’s Holiday Market takes the best things about the Saturday Market, bringing them i...


  • Toys! Historic Playthings from Lane County

    12/16/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Tree & Tea Party

    12/16/2017
    01:00PM — 03:00PM

    Join us for a family-paced winter wander through Hendricks Park’s tall trees. Post walk, enjoy te...


  • Nutcracker Remixed

    12/16/2017
    02:00PM — 04:30PM

    What do you get when you take the classic tale of the Nutcracker and give it a modern twist? The ...


  • Free Kids Table Tennis

    12/16/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • Nutcracker Remixed

    12/16/2017
    06:30PM — 09:00PM

    What do you get when you take the classic tale of the Nutcracker and give it a modern twist? The ...


  • Singin' In The Rain

    12/16/2017
    07:30PM — 10:00PM

    You remember the plot! You love the characters! You know “the song”! You’ll adore the sparkling, ...


  • Holiday Market

    12/17/2017
    10:00AM — 06:00PM

    Saturday Market’s Holiday Market takes the best things about the Saturday Market, bringing them i...


  • Nutcracker Remixed

    12/17/2017
    02:00PM — 04:30PM

    What do you get when you take the classic tale of the Nutcracker and give it a modern twist? The ...


  • Singin' In The Rain

    12/17/2017
    03:00PM — 05:30PM

    You remember the plot! You love the characters! You know “the song”! You’ll adore the sparkling, ...


  • Nutcracker Remixed

    12/17/2017
    06:30PM — 09:00PM

    What do you get when you take the classic tale of the Nutcracker and give it a modern twist? The ...


  • Applegate Regional Theatre and Studio 7 unite to present this “Holiday Concert and Carol Sing-alo...


  • Learn gardening techniques and meet other passionate plant lovers at this weekly work party. In p...


  • Toys! Historic Playthings from Lane County

    12/19/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Free Kids Table Tennis

    12/19/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • PreSchool & Lapsit Storytimes

    12/20/2017
    10:00AM — 10:30PM

    Every Wednesday at 10:00am we have two storytimes in the children's area of the library. To the l...


  • Toys! Historic Playthings from Lane County

    12/20/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Toys! Historic Playthings from Lane County

    12/21/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Free Kids Table Tennis

    12/21/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • Toys! Historic Playthings from Lane County

    12/22/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Holiday Market

    12/23/2017
    10:00AM — 06:00PM

    Saturday Market’s Holiday Market takes the best things about the Saturday Market, bringing them i...


  • Toys! Historic Playthings from Lane County

    12/23/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Free Kids Table Tennis

    12/23/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • Holiday Market

    12/24/2017
    10:00AM — 06:00PM

    Saturday Market’s Holiday Market takes the best things about the Saturday Market, bringing them i...


  • Learn gardening techniques and meet other passionate plant lovers at this weekly work party. In p...


  • Toys! Historic Playthings from Lane County

    12/26/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Free Kids Table Tennis

    12/26/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • PreSchool & Lapsit Storytimes

    12/27/2017
    10:00AM — 10:30PM

    Every Wednesday at 10:00am we have two storytimes in the children's area of the library. To the l...


  • Toys! Historic Playthings from Lane County

    12/27/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Toys! Historic Playthings from Lane County

    12/28/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Free Kids Table Tennis

    12/28/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


  • Toys! Historic Playthings from Lane County

    12/29/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Toys! Historic Playthings from Lane County

    12/30/2017
    10:00AM — 04:00PM

    We all have fond memories of hours spent at play, conjuring up stories and worlds with our toys. ...


  • Free Kids Table Tennis

    12/30/2017
    04:45PM

    Free Table Tennis for kids at the Eugene Table Tennis Club. Every Tuesday and Thursday. 4:45-6:15...


 

 January 2017 Education Guide

NEW!! Coming in Sept / Oct 2017!!!

 

Weekly Recipes