Three questions for a better income plan

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Income planning may help ensure you’ll never outlive your money in retirement. Let’s get started. 

Building an income plan

Imagine never running out of money. Ever. An annuity can provide you a protected monthly income that never runs out. Does that sound like it belongs in your retirement income plan?

Saving for retirement takes dedication and hard work. But will you know how to spend your savings in retirement and always have enough? It’s important to make a retirement income plan that considers your expenses and your sources of income, plus factors like how long you may live and how comfortable you are with uncertainty.

In years past, many retirees lived off pensions, Social Security, and retirement savings, which formed the “three-legged stool” of retirement income. Today, fewer Americans than ever have pensions, and many worry that Social Security may not keep pace with the rising cost of healthcare. 

To create an income plan that’s right for you, consider the following questions:

How long will you need your income to last?

A 65-year-old couple has a 73% chance that one of the pair will live to age 90 and a 20% chance that one will live to age 100.1 So it’s important to ensure your retirement income will last for a long lifetime.

How much of my savings can I afford to lose in a market downturn?

In a recent study, 40% of Americans told Lincoln they couldn’t afford to lose any of their savings in a market downturn.2 An annuity can provide a source of income that’s protected from market ups and downs.

Which of your retirement income sources are guaranteed, and which may run out?

Social Security benefits are often the only sources of guaranteed income in retirees’ portfolio. You can add another stream of reliable income with a protected monthly income from an annuity.

Learn more about Lincoln Financial annuity products, or talk to your financial advisor about how annuities can fit into your retirement income plan.

Guarantees are subject to the claims paying ability of the issuer.

1Society of Actuaries Longevity Illustrator, based on 2010 Social Security mortality tables applied to the MP-2015 SOA rates.

22018 Protect and Grow Study, Lincoln Financial Group and ORC International, 2018.