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April 13, 2018 at 12:21 PM
Single U.S. women may feel a lot more positively about owning annuities than single U.S. men do.
The LIMRA Secure Retirement Institute has raised that possibility in a new batch of survey data. Analysts based the latest slice on a survey of 1,130 single, retired heads of households. All of the participants were ages 55 to 79, all had been retired for at least one year, and all had household incomes of at least $35,000.
(Related: Debt Hampers Workers’ Retirement Savings: LIMRA)
Fewer than one-third of the participants had annuities. Participants who worked with financial professionals were about twice as likely to own annuities.
The outlook of the female survey participants who reported owning annuities was much different from the outlook of the male participants who owned annuities.
The analysts found that owning an annuity had little effect on the men’s retirement confidence levels.
About 68% of the men agreed with the statement, “I will be able to live the retirement lifestyle I want,” whether or not they owned an annuity.
