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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75525  
Subject: LIMRA Predicts Retirement Hell for Most Date: 3/16/2012 6:25 PM
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I like the way the Life Insurance Industry trade group tells us that the only way to save ourselves is to buy an annuity.

http://www.courant.com/business/connecticut-insurance/hc-lim...

Windsor-based LIMRA, which used to be called the Life Insurance Marketing and Research Association, has tracked how much people are setting aside for their retirement, what people are expecting from retirement and how those paths are diverging.

In a report last year, the American Academy of Actuaries suggested individuals plan to save $20,000 per year for 25 years, or $500,000. The academy also suggests putting money into an annuity for timed distributions rather than a lump-sum distribution.

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The median family income in the United States is less than $50,000/year. They're suggesting a 40% saving rate?

I bet you could get by with 20% if you merely avoided the Life Insurance industry's high fees.

intercst
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Author: ziggy29 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 70382 of 75525
Subject: Re: LIMRA Predicts Retirement Hell for Most Date: 3/17/2012 10:31 AM
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>> In a report last year, the American Academy of Actuaries ... also suggests putting money into an annuity for timed distributions rather than a lump-sum distribution. <<

Yeah, no conflict of interest there. Which employs more actuaries -- people buying annuities or people transferring a lump sum distribution into an IRA?

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