Americans expect to live longer in retirement than their parents did, according to a study released Tuesday by the National Association for Variable Annuities.
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The association's 2005 Retirement Horizon Study said that 53% of respondents expect to live from 16 to 30 years or more in retirement. And 34% said they expect to retire between the ages of 50 and 64 and then spend "decades" in retirement.
The association said annuity products will help these people prepare for lengthy retirements because they guarantee income, greater liquidity, and protection.
