What’s Happening at AFA | Saving for Retirement

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According to Wells Fargo, 37 percent of Americans expect to work until they’re too sick to continue or they die. Well that’s depressing, isn’t it? At AFA, while we hope our Colleagues love their jobs and want to stay here a long time, we also want them to be able to retire and enjoy that time of their lives. After putting 30-plus years into the workforce, they deserve to live a life full of family, travel, volunteering and hobbies.

So, what can we do to help more people reach their retirement goals? For starters, we encourage our Customers, Colleagues and community to research their retirement options and create a plan.

“There is no one-size-fits-all retirement solution,” said Paul Arvin, annuities products specialist at American Fidelity. “You have to evaluate your personal situation, including your income tax rate, investment experience and comfort with risk to determine the best retirement strategy to meet your needs.”

We offer a supplemental or alternative retirement strategy to Customers who desire a guaranteed income after retirement. These annuities are insurance contracts allowing Customers to accumulate money that is then distributed on a guaranteed basis after they retire.

“Annuities can be a good solution for people who worry about stock market losses and outliving their retirement savings,” said Paul. ”In addition, contributions are tax deferred and annuities can be beneficial in estate planning by avoiding probate.”

In addition to serving Customers with retirement solutions, we’ve boosted retirement education efforts with our Colleagues.

“We provide Colleagues with both a pension plan and a 401(k), and we want to make sure they understand the differences and the importance of contributing to their 401(k) even though they also have the pension plan. The pension plan alone will not provide enough to support them through 30 years of retirement,” said Karla Bolinger, retirement and compensation specialist at American Fidelity.

Finally, once Colleagues retire, we offer them a chance to stay active with AFA through our Heritage Club and by working part time if they desire and an applicable opportunity arises.

So, what about you? Are you one of the 37 percent? What retirement assistance would you like from your employer to help you meet your goals?

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