How Will Near-Retirees Manage Retirement Savings for Retirement
Near-retirees typically share the same top financial priorities for retirement—all of which are consistent with annuitization. So is there a disconnect between priorities and intentions among those likely to not annuitize?
This study examines how near-retirees with significant assets in tax-qualified retirement accounts expect to convert their savings to income in retirement and the factors that influence their expectations. In particular, the researchers focus on what drives annuitization decisions.
The researchers surveyed 501 near-retirees, age 55 or older, who had at least $400,000 in defined contribution accounts and/or IRA assets and no defined benefit pension income. No respondents were retired yet.