The risk of outliving retirement savings can be one of the biggest challenges we face. However, with smart planning, you can build the financial groundwork to receive income in retirement that will last no matter how long you live.
Guaranteed income—the foundation of a secure retirement
Guaranteed income can be the foundation of a worry‐free retirement for you and your loved ones. By determining the gap between your expected guaranteed income sources and your basic living expenses (e.g. food, housing, health care); you can then develop a plan to cover shortfalls.
Income you can't outlive—guaranteed
So how can you protect yourself and your loved ones? The risk of outliving your savings can be diminished by using an annuity. An annuity is the only retirement savings option that offers income you can't outlive. Income payments are guaranteed for life and are backed by the financial strength of the issuing insurance company.1 Annuities can also offer flexible payment options and survivor‐benefit elections in many cases, including:
- Blending lifetime income with other options such as periodic cash withdrawals
- Payments to loved ones after you pass
Certainty—a safe and predictable stream of income
Market volatility can have a dramatic impact on your assets' value and leave you less prepared for retirement. A fixed annuity can eliminate some of your concerns by:
- Paying you guaranteed interest while you save
- Reducing the effects of market downturns on your retirement savings portfolio
- Providing you a predictable income stream for life
Peace of mind—maintaining your standard of living
TIAA Traditional Annuity is a guaranteed annuity product issued by Teachers Insurance and Annuity Association (TIAA), New York, NY.2 It can offer the peace of mind and certainty of lifetime income that can help to cover your basic, everyday living expenses in retirement. In up and down markets, TIAA Traditional preserves the value of your savings and offers competitive interest rates during the accumulation phase.3
Talk with your TIAA advisor
Consider a TIAA Traditional Annuity. To learn more about annuities and how to pursue a financially secure retirement, call your TIAA advisor.