With so many boomers concerned about whether they’ll outlivetheir assets in retirement, it’s probably no surprise that they’dbe interested in converting assets into guaranteed lifetime incometo see them through.

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And that’s exactly the word from the “Finding the Right Mix:LIMRA Retirement Attitudes and Preferences” study, from the LIMRASecure Retirement Institute. The study found that half of all U.S.households of non-retired and retired people who have at least$100,000 in assets are interested in converting assets intoguaranteed lifetime income for retirement.

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“Our research shows that these demographic segments are lesslikely to have a defined benefit pension plan and will have to relyon their own assets to create retirement income,” MatthewDrinkwater, associate managing director, LIMRA Secure RetirementInstitute, said in a statement.

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“Our study,” he continued, “found 7 in 10 retirees andpre-retirees say having enough money to last their lifetime is atop priority, and nearly two-thirds want to remain financiallyindependent in retirement.”

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Even though they’d really like that guaranteed income, studyresponses indicated that not all consumers are storming the gatesto convert their assets, thanks to concerns brought on by recenteconomic events.

The study said that the top concerns cited by pre-retirees andretirees were worries about guarantees potentially not keeping upwith inflation; fear of locking in low rates of return; and lack oftrust in companies backing the guarantees.

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The groups most interested in converting assets to guaranteedlifetime income were those aged 50-59 (55 percent), those who werenot yet retired (54 percent), and those with household assetsbetween $100,000-$499,000 (52 percent). Those with the leastinterest were the retired (40 percent), those who were 65-75 yearsold (40 percent), and those with $1 million or more in assets (41percent).

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