It's never too late to set a solid retirement strategy


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Worried inflation might eat up your retirement savings? You're not alone. A full 81% of people polled by Morning Consult are stressed they may not have enough money to last through retirement. Not surprisingly, the poll also found 54% are considering ways to make sure they have regular monthly income after they quit working. The way they intend to do that isn't through becoming a greeter at Walmart (not that there's anything wrong with that). They're considering annuities. 

The good news is that adding annuities to your retirement savings has gotten easier. Because the Secure Act has been passed by Congress, it's become easier for employers to offer annuities as a retirement savings choice in 401(k), 403 (b), and other plans.

Fidelity (the largest provider of 401(k) plans), for example, is letting some investors convert some retirement savings into fixed annuities that will provide regular payments throughout retirement — no matter how long retirement might be.

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Are you one of 64% of Americans who thinks their retirement savings may not be enough? SmartAsset's free tool can match you with up to three fiduciary financial advisors in your area in five minutes to help answer that question.

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Still, before you jump on the annuity train, make sure you find out about fees, which can cut into your investment. Educate yourself about fixed-income annuities through Fidelity or

The threat of inflation, higher interest rates, and a market that's unpredictable at best has caused annuity sales to reach an all-time high, so it's not exactly a direction others aren't following. Remember that you might not see the heady returns some have gotten in the stock market — but given recent dips, you may not have the stomach to watch that roller coaster anyway. 

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