Exploring Retirement Income Strategies with Joshua Grass and Todd Levy

The retirement landscape is undergoing a dramatic shift, characterized by unprecedented challenges such as increased longevity and unpredictable market conditions. Traditional retirement models centered solely on wealth accumulation are no longer sufficient. A more holistic approach is imperative to effectively manage risks, generate sustainable income, and ensure financial security throughout retirement.

To explain this transformation, joining us on the 401(k) Specialist Pod(k)ast are a pair of well-versed subject matter experts in Joshua Grass, CFA, Senior Strategic Accounts Associate at Allianz Life, and Todd Levy, Managing Director, RIA, with The Retirement Plan Company.

Josh and Todd share thoughts on how the landscape is changing, the new challenges emerging, how to adapt strategies that prioritize the creation of a sustainable income stream for retirees, and how to address participant concerns about retirement income planning.

Key Insights

Evolving Retirement Landscape:
Retirement planning is shifting from a primary focus on wealth accumulation to a more holistic approach emphasizing risk management and sustainable income due to increased longevity and demographic changes.

New Strategies for Retirement Income:
Industry experts highlight the importance of guaranteed lifetime income solutions, such as annuities, which provide stability and protection against market downturns, ensuring a reliable income stream throughout retirement.

Participant Concerns and Industry Response:
Many participants fear outliving their savings more than death itself. The industry is responding with services and products that offer personalized advice, inflation protection, and easy-to-understand income strategies, improving participants' financial confidence and retirement security.

Research cited in the podcast:

• Alliance for Lifetime Income, “Welcome to the Peak 65® Zone – A New Chapter in American’s Retirement Landscape,” January 2024
• Allianz Life conducted an online survey, the 2024 1Q Quarterly Market Perceptions Study, in February 2024 with a nationally representative sample of 1,005 individuals age 18+
• The Allianz 2024 Annual Retirement Study, conducted online in February and March 2024 with a nationally representative sample of 1,000 individuals age 25+ in the contiguous U.S. with an annual household income of $50k+ (single) / $75k+ (married/partnered) OR investable assets of $150k+
• U.S. Social Security Administration, Period Life Table, 2020, as used in the 2023 Trustees Report

Allianz Life Insurance Company of North America does not provide financial planning services.

Allianz Life Insurance Co