As more retired individuals outlive their money, choosing the optimal retirement financing option is key. Enter Abaris, the only platform in the US that provides a real-time comparison for retail annuity products. The company handles differences in the jargon providers use and translates it all back in a standard, easy-to-understand language. More importantly, the platform affords users the flexibility to model different options - from changing the retirement horizon to index linking income streams - and easily understand the financial impact.
For many workers approaching retirement age, they are faced with making complex, jargon-riddled decisions that will impact the quality of their remaining lifetime, for better or for worse! Their financial assets accumulated over a forty-year or so period must now be put to work. With the average age for those about to retire being in the mid to late 80’s, and with 40% of them living into their 90’s, workers need to plan for a life span of another 20 years or more after they retire from work. The ageing population and changing demographics around the world have put massive strains on corporate and government mechanisms to provide for those in retirement. The days of the defined benefit corporate pension are long gone, whilst State pensions and social welfare are under constant scrutiny to keep the pay bill down.