What’s your vision for a long life?
If you’re like many Americans, you may be looking forward to living a long life. After all, a long life means more time for family and friends—and more time to do the things that bring you joy. What would living a long life mean to you?
We recently asked Americans about the benefits of living a long life, such as to age 100.1 Here’s what they told us:
| What are the benefits of living to 100? | |
| Continued meaningful relationships with family and friends | 72% |
| More time to explore / have new experiences | 65% |
| Witnessing new discoveries | 60% |
| Enjoying more leisure time in retirement | 58% |
| Having more time to be productive | 33% |
Along with the prospect of living longer comes the potential worry about having adequate retirement savings. Our research revealed that two-thirds (66 percent) of those surveyed fear running out of money more than death.1
Many people don’t want living longer to mean they’ll be working longer. If they were to live to 100, nearly half of Americans surveyed say they’re extremely or very concerned about the prospect of working an additional 10+ years to fund their retirement.1
The potential for increasing longevity highlights the need to actively plan and prepare for a long life—so you can push aside worries about running out of money and focus on living life the way you want, no matter how long you live. That’s where annuities and protected lifetime income can help. Because living longer should be cause for celebration, not financial worry.
To learn more about funding a longer life with protected lifetime income, download the complete Action Planner.
1Corebridge Financial, “2023 Corebridge Financial Survey on Longevity.”
Annuities are long-term insurance products designed for retirement. Earnings are taxed as income upon withdrawal. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. If you fund your IRA with an annuity, you should realize that these types of retirement accounts are already tax-deferred. An annuity provides no additional tax deferred benefit beyond that provided by the retirement account itself. You should only use an annuity in a retirement account if you want to benefit from features other than tax deferral. Please consult with your financial professional and tax advisor regarding your individual situation.