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Optimistic Women Are Different: Alliance for Lifetime Income

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The Alliance for Lifetime Income (ALI) has no data on whether the retirement income chicken came first, or the retirement income egg, but it says it has survey data that show that women who have protected retirement income are more optimistic about their retirement income than other women are.

(Related: Alliance Adds Advisor Version of Retirement Readiness Assessment Tool)

ALI is a nonprofit organization, backed by annuity issuers and big annuity distributors, that’s trying to do for annuitized retirement benefits what the “Got Milk” awareness campaign did for the dairy industry.

ALI has taken steps such as developing a retirement readiness benchmarking tool, sponsoring the recent Rolling Stones tour, and conducting surveys to power annuity awareness efforts.

ALI recently sponsored a survey that drew on responses from 3,119 U.S. adults.

Survey managers found that 67% of the men surveyed and 64% of the women were at least moderately optimistic about their retirement years, but that 58% of the non-retired women expect their money to run out before they die.

Only 47% of the men surveyed expect their money to run out before they die.

About 32% of the men had a professional financial advisor. Just 25% of the women had an advisor.

ALI also found that, among women, having an annuity, a pension plan, or some other “source of protected lifetime income” other than Social Security benefits correlated with an increase in retirement income optimistic.

About 53% of the women who were optimistic said they had a source of protected lifetime income. Only 36% of the “somewhat optimistic” women had protected lifetime income, and just 17% of the pessimistic women had protected lifetime income.

— Read Insurers Try to Sell the World on Retirement Income Guarantees, on ThinkAdvisor.

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