“Retirement Income Planning for Dummies” is an animated educational video aimed at retirees and their advisers. The video is from Annuity Think Tank, a research organization that specializes in annuities and retirement income. In plain if somewhat stilted language, two crash test dummies discuss the benefits of saving and investing to create a guaranteed income during retirement. The conversation leads to a discussion about common retirement mistakes and how to overcome them.
The younger, less-knowledgeable dummy asks about Social Security, giving the other dummy an opportunity to detail the pitfalls of relying solely on the government program to fund retirement. He suggests additional ways to save, such as 401k matching plans and fixed-index annuities. The experienced dummy also discusses the importance of tax deferral and establishing a retirement plan early for a secure and safe outcome regarding retirement savings and retirement income.
The younger dummy, unfamiliar with retirement planning, expresses interest in learning more after hearing all of the benefits of saving early and creating a lifetime income stream to protect against the longevity risk of outliving your money.
The organization has other videos on its website. “Retirement Income Planning for Dummies” can be seen here.