Income Outcomes:
Retirement Planning Confidence Study Results
Save. Save. Save.
When Concerns & Confidence Collide
![Bar chart that shows the top retirement concerns among retirees and pre-retirees. Top concerns include running out of money, cost of healthcare, inflation and cuts to Social Security.](/-/media/feature/westernsouthern/content-blocks/lefty-righty/top-retirement-concerns-among-retirees.png?rev=ee4a6b302d664c47bbe42d9ab094e4b8&la=en&h=364&mw=680&w=680&hash=08A60965F30119C0BBECCC83F3E38C8FBDEAEC4E)
Top Concerns Similar Among Retirees & Pre-Retirees
![Almost half of respondents (age 50-75) are slightly or not at all confident they can manage their own investments throughout retirement. Female retirees and respondents with net worth at or below $250k are even less confident.](/-/media/feature/westernsouthern/content-blocks/lefty-righty/slightly-or-not-at-all-confident-about-managing-own-investments.png?rev=9b5724fb9fc343af83304b47ad9645cb&la=en&h=254&mw=680&w=680&hash=D0837870D7B9CB5FBA2A5BDE4292C57E7B890EF8)
Lack of Confidence in Managing Investments
Insight 1: Professional Guidance
![Retired couple meeting with a financial professional](/-/media/feature/westernsouthern/content-blocks/lefty-righty/retired-couple-meeting-with-financial-professional.jpg?rev=f61548f3d14b42f586845233dfa835cb&la=en&h=399&mw=680&w=680&hash=564972E68F9931017AC03DBC6CD390059077F8BB)
Retirees & Pre-Retirees Want Professional Financial Advice
The Value of Guidance
![Couple discussing annuities with financial professional](/-/media/feature/westernsouthern/content-blocks/lefty-righty/couple-discussing-annuities-with-financial-professional.jpg?rev=9009260ab9d04e21a9d721b90f58146f&la=en&h=399&mw=680&w=680&hash=5286B9D75E38D6F3AB8876608E5AF477076F36FE)
Additional Considerations for Annuities
Insight 2: Retirement Income Planning
Anatomy of an Income Plan
1. Establish Goals
2. Understand Risks
3. Identify Sources
Understanding Income Planning
A retirement income, or spending, plan is different — but just as important — as a retirement saving plan. Yet 44% don’t know what it entails. Pre-retirees and annuity non-owners know less. Pre-retirees are twice as concerned as retirees about income planning, yet a third have no plan. They need help with what goes into it, customizing it and putting it on paper, ideally with financial professional help.
![Couple researching annuity options on the computer at home with their dog](/-/media/feature/westernsouthern/globals/2-column-image/couple-researching-annuity-options-at-home.jpg?rev=b0436c4826b84cedb75359700e14627a&la=en&h=392&w=575&hash=C896ACA4D6EBBF7CF4EFF16551999FF4807D3CB4)
When In Doubt, Write It Out
Set It, But Don't Forget It
Keep It Up To Date
Insight 3: Guaranteed Lifetime Income
![Grandmother sitting in wheelchair and playing with grandson](/-/media/feature/westernsouthern/content-blocks/lefty-righty/grandmother-playing-with-grandson.jpg?rev=f877aacf0ebf40b6b426010d87c00be9&la=en&h=399&mw=680&w=680&hash=36C7E3E2DA1FFAB1EF1C8D4F7784EC74DA975C94)
Solving the Income Challenge
Need & Solution Disconnect
The Need for Annuity Knowledge
![Chart comparing owner and non-owner perceptions of annuities. Actual annuity owners have a good grasp on the wide-ranging benefits and advantages the strategy can bring to their retirement. Owners consistently rated the top beneficial aspects of annuities higher than non-owners. But non-owners aren’t as aware of benefits and may even have some misconceptions.](/-/media/feature/westernsouthern/content-blocks/lefty-righty/annuity-perceptions-comparison.png?rev=2783ddba6af8442d9dd24fd7a76bb0de&la=en&h=384&mw=680&w=680&hash=0801086FB1BD2D7F98AE08E933D40047C2C537C7)
Annuity Perceptions & Reality
![Woman discussing retirement income planning with financial professional](/-/media/feature/westernsouthern/content-blocks/lefty-righty/woman-discussing-retirement-income-planning-with-financial-professional.jpg?rev=f059e401c665460da521c2ff2cad131b&la=en&h=399&mw=680&w=680&hash=B40C229E5394CA2AB4D4A943E2704CBA22372D75)
Neutral Sentiment Equals Opportunity
Key Takeaways
Retirees & Pre-Retirees
Financial Professionals