Seventy-three percent of retirees who own an annuity believe they will be able to live the retirement lifestyle they want, compared to 64% of retirees who do not own an annuity, the LIMRA Secure Retirement Institute found through a survey of 2,025 retirees.
Sixty-nine percent of retirees who own an annuity think their savings will last them through age 90, compared to 57% of those who do not own an annuity.
The study also found that 56% of retirees who work with an adviser own an annuity, compared to 28% of retirees who do not work with an adviser.
The research also found that retirees and pre-retirees who have a formal retirement plan are three times as likely to feel they are very prepared for retirement and twice as likely to have estimated how long their savings will last.
