2017 Resolution Solutions: Prioritize Your Retirement Future

In the Second of its Three-Part Series, Lincoln Financial Group
Recommends Four Simple Steps Consumers Can Take Today to Improve their

RADNOR, Pa.–(BUSINESS WIRE)–In the second segment of its series that encourages consumers to set and
achieve realistic financial planning goals over the course of the new
year, Lincoln Financial Group (NYSE: LNC) is urging people to prioritize
their retirement future by taking four simple steps.

“Even though our Measuring
Optimism, Outlook and Direction (M.O.O.D.) of America survey
that the average age Americans expect to retire is 64, it’s never too
early to start thinking about retirement,” said Jamie Ohl, president,
Retirement Plan Services for Lincoln Financial Group. “By taking simple
steps today, like setting a specific goal of how much they want to save
this year or increasing their contribution by even just one percent,
savers can help ensure that they will be able to achieve the retirement
they envision.”

As part of its campaign, Lincoln Financial recommends the following tips
to help consumers prepare financially for retirement:

  • Set Specific Retirement Savings Goals. Participants who set a
    specific savings goal are four and a half times more likely to feel
    confident when they think about retirement, and they are also four and
    a half times more likely to feel optimistic about having enough money
    to maintain the lifestyle they want than those who do not set a goal,
    according to Lincoln Financial’s Retirement Power participant study.
  • Calculate Income Needed in Retirement. According to the
    M.O.O.D. data, 62 percent of respondents say they did not or will not
    have saved enough in retirement. Consumers can better understand how
    much they will need by tracking their spending for 90 days and being
    sure to budget for healthcare. Also, tap into a life
    expectancy calculator
    to help project how much income is needed.
  • Determine Income Sources. Consumers should think about how and
    when they will take distributions from retirement accounts, such as
    workplace plans and Individual Retirement Accounts (IRAs), and
    consider how inflation and market volatility may affect balances. For
    anyone planning to be retired for 20 years or more, Lincoln Financial
    suggests consumers recognize that these variables can affect the
    amount of money they have in retirement and reduce the annual amounts
    available for withdrawal. The M.O.O.D. findings also showed that 47
    percent of people say they would not be ready for retirement without
    social security, which underscores the need to consider supplementing
    retirement income with other solutions like an annuity or life
  • Work with a Financial Professional. One way consumers can feel
    more confident in making decisions about their financial futures is to
    increase their knowledge of products that are available to them. A financial
    can help develop a financial plan tailored to a saver’s
    specific needs, as well as provide education about various insurance
    and retirement solutions. Lincoln Financial’s M.O.O.D. survey found
    that 91 percent of respondents who work with a financial advisor feel
    that person helps them to understand the options available to achieve
    their financial goals.

“Planning for retirement can seem overwhelming, especially when trying
to balance saving for the future with bills that need to be paid today,”
Ohl said. “However, every small step taken today can have a big impact
on creating a more secure financial future.”

Visit www.lincolnfinancial.com/resolution2
for more information on planning for retirement, as well as creating a
larger financial plan for you and your family.

About 2017 Resolution Solutions

Lincoln Financial Group launched its 2017 Resolution Solutions campaign
to help consumers set and achieve realistic financial planning goals
over the course of the New Year. The three-part series features tips on
maximizing workplace benefits; preparing for retirement; and protecting
the ones you love.

About the M.O.O.D. of America

Results for the 2016 M.O.O.D. (Measuring Optimism, Outlook and
Direction) of America poll are based on three national surveys conducted
by Whitman Insight Strategies on behalf of Lincoln Financial Group in
March and April 2016.

The M.O.O.D. of America survey was conducted among 2,267 adults 18 years
of age and older across the United States, and included a sample of the
General Population as well as over-samples to ensure data cuts by key
demographic sub-groups that are of particular interest for this
research. The final sample includes 405 African Americans, 402 Asian
Americans, 402 Latino Americans, and 418 LGBT Americans. The margin of
error is ±1.9% at the 95% confidence interval.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help empower
people to take charge of their financial lives with confidence and
optimism. Today, more than 17 million customers trust our retirement,
insurance and wealth protection expertise to help address their
lifestyle, savings and income goals, as well as to guard against
long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln
Financial Group is the marketing name for Lincoln National Corporation
(NYSE:LNC) and its affiliates. The company had $228 billion in assets
under management as of September 30, 2016. Learn more at: www.LincolnFinancial.com.
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Media Contacts:
Holly Fair
Financial Group
Lincoln Financial Group