They need it, they want it, they gotta have it. But when it comes right down to it, Americans in search of guaranteed lifetime income are pretty uninformed about sources for it other than Social Security and pensions.
That's the conclusion of research from independent data provider CANNEX and market research firm Greenwald & Associates, which found that although Americans depend on guaranteed lifetime income to get them through retirement and will need more of it as time passes, they really don't know much about alternative sources for it.
Consumers between the ages of 55-75 with at least $100,000 of investable assets place a high value on guaranteed lifetime income sources to augment Social Security benefits. They also believe guaranteed income helps them manage spending, plan their finances and do so with peace of mind.
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