Tim Seifert is the Senior Vice President and Head of Retirement Solutions Distribution at Lincoln Financial Group. Tim joins Advisorpedia to discuss the Peak 65 trend, a historic demographic milestone in the US with 4 million Americans turning 65 this year, and the growing need for protection products.
They also discussed:
- Factors contributing to financial insecurity in retirement including the decline of pensions, reliance on defined contribution plans, market volatility, and timing of Social Security claims.
- The need for Financial professionals to educate clients on the challenges faced in retirement and the benefits of protected income.
- Annuities are highlighted as an effective tool for providing pension-like income and protecting against outliving savings.
- Lincoln Financial Group emphasis on innovation, flexibility, and choice in meeting the market demand for products like annuities.
- Concrete action steps for advisors include educating on protected growth, simplifying income planning conversations, and building trust with clients.
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Related: Investing in Turbulent Times: A 2023 Recap and 2024 Outlook with Matt Berger
Annuities are long-term investment products that offer tax-deferred growth, access to a lifetime income stream, and death benefit protection. There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan. All investing involves risk.
Lincoln annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.
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