People are living longer, making it more important that retirees have enough funds to last them throughout retirement. Preparing a sound plan may help ensure you don't outline your retirement assets. Funding retirement solely with an employer-sponsored plan may not be enough to provide the lifestyle desired.

The image below shows the average life expectancies of men and women at various ages. Life expectancies are stated as statistical averages, meaning you may live more or fewer years than those in our age group.

By starting early, your savings have time to grow
Personal savings and investments, such as an annuity, are important in helping to close the retirement income gap. This could further ensure that your retirement years would not be spent worrying about money.