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Planning for retirement future made easier with score method

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As more people are heading into retirement than in any other time in history, figuring out the right method to ensure financial stability is an important tool to have, according to the Lincoln Financial Group.

The company found that using a retirement planning score to help people track their retirement readiness was a powerful asset. Figuring out life insurance payments and annuity funding can be a complicated process. This new system allows individuals to assess an income-to-assets ratio of their portfolio, according to Lincoln Financial.

"The 10X assets-to-income ratio is a guide that can help people determine how they can be better prepared for retirement," said Chuck Cornelio, president, Defined Contribution, Lincoln Financial Group. "By encouraging savers to easily track their progress throughout their saving years, Lincoln is revitalizing the retirement planning process with a spirit of optimism. We believe we can help motivate people to take actions that lead to better retirement outcomes."

The group also identified some key behaviors in people that were successful in saving for retirement. Getting professional advice, participating in an employer sponsored retirement plan and having an investment strategy were all key factors in fruitful savings results. 

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