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Next Avenue: There’s hope for a simpler, cheaper way to get steady retirement income

This article is reprinted by permission from NextAvenue.org.

Many workers in their 50s and 60s worry about whether they’ll have enough savings for a comfortable retirement, of course, but they also have another big financial fear: How can they essentially re-create their paycheck so they can count on steady, reliable retirement income? A new initiative from a consortium of financial services companies — with the slogan Retire Your Risk — hopes to help address that concern.

The recently released Franklin Templeton Retirement Income Strategies and Expectations survey shows the dilemma. It found that 52% of workers are “concerned about managing retirement income to meet expenses” and more than a third of those who are within five years of retirement said they “did not have a strategy to re-create a paycheck.

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