This post originally appeared on Money Cynic.
It's a simple goal, but it may not have a simple solution. 401(k) participants say their main goal is to have a secure stream of income in retirement, and they’re looking for help to achieve that, according to a survey by State Street Global Advisors (SSgA). Most of the survey participants (80%) believe that a guaranteed monthly payout benefit is a “must have,” even if it means compromising some access to their retirement savings.
“Participants are looking forward to life in retirement, and they want to be able to enjoy their golden years without financial stress,” says Fredrik Axsater, managing director and head of global Defined Contribution for SSgA. “They need guidance on what do with the savings they have accumulated -- how to spend it and how to make it last.”
The post 401(k) Participants Say a Retirement Income Stream is their Top Priority appeared first on Money Cynic.