By the year 2025 66 million Americans will leave the workforce and retire. The article on LifeHealthPro discusses the recent retirement market analysis from LIMRA and in the next 10 -20 years and beyond, there will be an unprecedented migration of people and assets moving into retirement.
"The skyrocketing number of retirees, largely from the Baby Boomer generation, will shift a considerable $25 trillion in assets toward retirement income, roughly double the amount available today. In addition, investors aged 60 and older control nearly 60 percent of all financial assets in the U.S."
Jafor Igbal, assistant vice president of LIMRA Secure Retirement Institute discusses key research findings and identifies emerging trends and identifies these three important opportunities in the retirement income market for the industry in general and advisers in particular:
- Guaranteed lifetime income solutions
- Rollover market
- Retirement income planning