We worked with our partners at the Alliance for Lifetime Income on the most recently released installment of the Protected Retirement Income and Planning [PRIP] Study. PRIP is a joint research effort focused on both investors and financial professionals, designed to better understand and forecast retirement income trends. This is the fourth chapter of a study that builds on studies conducted in the three previous years. Notably, this piece focuses on growing health-related concerns in retirement.
The goal of this study was to help people understand how to secure the financial resources and income needed to cover healthcare costs, long-term care needs and other health-related expenses in retirement.
Key findings include the following:
- 1 in 3 Americans say a focus on healthy living is one of their top retirement “bucket list” items.
- 38% of retired Americans aged 45 to 75 say health reasons for self or a loved one was a top 3 reason why they retired.
- 51% of financial professionals report that more clients are asking questions about healthcare, Medicare and long-term care.
The study also looked at conversations between financial professionals and their clients around health-related concerns, including cognitive decline, and how protected income can play a role in these circumstances.
Learn more at the PRIP landing page or by downloading the Chapter 4 report [PDF] and press release [PDF]. Finally, for summaries of previous PRIP chapters see retirement outlooks among Peak 65 women and annuities as a key retirement solution.
