Most workers older than 40 have inadequate retirement savings and are not saving enough to catch up, yet most expect retirement income far greater than even the highest Social Security benefits, according to recent research by the Insured Retirement Institute (IRI), a trade group for the annuity industry.
Although workers also believe that protected lifetime income is a critical characteristic of a retirement investment, they need to save more to produce that income, the findings showed.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
