The following post is sponsored by TIAA.
There are five things that I never want to run out of. These include:
- Travel and adventure – I always want to be able to RV, sail, hike, and ride bikes. I love being able to explore, do new things, and see what this amazing planet has.
- Delicious food – Who doesn’t love food?
- Dogs to pet – This one is another no-brainer.
- Time with family and friends – This sparks joy, of course!
- Retirement income
And, today, I want to talk more about retirement. This is a personal finance blog after all!
Retirement is so important.
For me, I am all about saving for retirement, and my husband and I save a significant percentage of our income each month due to this.
Retirement to me means that I never have to run out of travel and adventure, or any of the other wonderful areas of my life from my list above!
Saving for retirement now is important for many reasons.
However, according to a survey done by GoBankingRates, 42% of Americans have less than $10,000 in savings and included in that 42%, 14% have nothing saved for retirement.
But, the survey found this is changing, and I think you can start saving for retirement too.
One way to prepare for retirement is with products that can provide guaranteed annuity income for life.
According to TIAA’s 2019 Lifetime Income Survey, 69% of working Americans say that having an income during retirement that is guaranteed to be paid for as long as they live as the most important goal for their retirement plan.
AND, 88% of people who own an annuity with guaranteed lifetime income say it positively impacts their confidence about being financially secure.
I know that many of us worry about running out of retirement savings, and the future can be a weird thing to think about (it’s so far away, right?!).
I'm sure that we can all relate to the experience of running out of gas, having our cell phones die, running out of toilet paper, and the list goes on, but with products that can provide guaranteed income for life you can be sure that you won’t run out of income in retirement.
Due to this, you may want to think about making guaranteed income part of your retirement plan.
TIAA provides products that provide guaranteed lifetime retirement income. To find out if you are eligible and learn more, visit TIAA.org/NeverRunOut. If eligible, you can use the Personal Pension Calculator to estimate your monthly lifetime income.
Who is TIAA?
TIAA is a leading financial services provider for those in the nonprofit, academic, research, medical, and governmental fields, with over 15,000 institutions and 5 million individuals served.
They are a different kind of financial services company, helping people in these fields meet their financial goals through their global and diversified financial services. TIAA continues the legacy built by Andrew Carnegie, who helped create TIAA in 1918 to ensure teachers could actually retire.
What does it mean to you to not run out of money for retirement?
Annuities issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY.
Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability.
Jess @ The Exceptionally Ordinary Life says
Wow, this is really interesting. I didn’t even know TIAA existed, let alone how long they’ve been in business! Definitely checking them out. Do you use their service Michelle?
Michelle Schroeder-Gardner says
They are only open to those in the nonprofit, academic, research, medical, and governmental fields, so, no, I am not a part of their service because I am not in any of those fields. I am happy to highlight them for my readers who are, though.
Jess @ The Exceptionally Ordinary Life says
Well, there I go putting my foot in my mouth for not paying closer attention to that tiny detail haha Sorry! I wouldn’t be able to use their services either, but they sure sound like a great option for those in the right industries!
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Mike Dittenber says
I like this topic! I appreciate that you relate retirement to other important aspects of your life. It helps realize the importance of setting up a plan to last throughout the future. Whether it is a TIAA plan or otherwise, we all need to find what will work for our situation and goals.
Thanks for the post!
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Awesome stuff! I totally agree with your list of things you never wanna run out of, especially travel and dogs to pet! =))