Topic: Annuities

The government wants to make it easier for workers to convert part of their 401(k) savings into an annuity that would pay guaranteed income checks for life — no matter the ups and downs in the markets.

Some people who are unprepared for retirement respond with a strategy known as “Hurry-Up Offense” retirement. This entails scrambling like mad at the 11th hour to find something to live on. It’s less than ideal, but sometimes a well-planned nest egg simply doesn’t exist.

Ameriprise Financial examined where consumers are most confident about retirement. Many expressed a nagging sense that they hadn’t saved enough money to keep them afloat. They’re right to worry, but they still have time for corrections.