Athene exec reveals the 2 mistakes retirees make — and the kicker that could eviscerate savings

Core Insights - The US retirement system is failing to provide security for the majority of savers, leading to financial fragility among retirees [1] - A significant 64% of savers fear running out of money, indicating a lack of safety margin that could lead to financial ruin during market downturns [2] Annuities as a Solution - Annuities are designed to transfer longevity risk by providing a guaranteed lifetime income stream, potentially increasing the perceived value of a retiree's nest egg [3] - By integrating annuities, a retiree with a $1 million nest egg can feel as if they have $1.5 million available for spending [3] Common Mistakes Among Retirees - The fear of running out of money leads to underspending, causing retirees to sacrifice their quality of life [4][5] - Many retirees do not purchase annuities early enough, missing out on tax deferral benefits that can be advantageous over decades [6] Changing Perceptions of Annuities - The perception of annuities as complex products is being challenged, with modern options simplifying the process for younger savers [7]