Retirement calculators are a valuable way for prospects to gauge the many aspects of retirement that they must prepare for, with the most important being income. As of 2018, 61% of Americans do not know how much money they will need for retirement, creating an opportunity for annuity firms to provide educational resources in determining how to prepare for living through retirement. As 77% of working age individuals do not meet conservative savings targets for their age, most will experience a shortfall in their savings. Due to the importance of education and preparedness in this subject, firms should make calculators readily available, especially for prospective clients, and clear to use. This report evaluates the retirement planning tools provided on the public sites of 17 firms in our coverage group.
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