Retirement Has Changed - Why Funding Your Own Retirement Is the New Normal
The following educational materials are intended for informational purposes only and are not intended to constitute personalized financial advice.
For decades, retirement followed a familiar script. You worked for one company, earned a pension, and counted on predictable monthly payments for life. Today, that system has largely disappeared. For most Americans, funding retirement is no longer handled by an employer—it’s a responsibility individuals must manage themselves.
This shift has made retirement income planning more important than ever. Instead of relying on a pension, people are now expected to build, manage, and turn their own savings into reliable retirement income that can last 20, 30, or even 40 years.
At Ceres Life, we believe understanding how retirement has changed is the first step toward building more confident retirement income.
From Pensions to Personal Responsibility
Traditional pensions once promised guaranteed income for life, but today they are relatively rare outside of government and select union jobs. In their place, workers rely on 401(k)s, IRAs, and personal savings. While these tools are powerful, they were designed primarily for saving— secondarily for delivering retirement income.
Why Retirement Income Planning Matters
Saving for retirement and generating retirement income are two very different goals. Accumulating money answers the question, “How much do I have?” Retirement income planning answers, “How do I turn my savings into a paycheck?”
Without a pension, retirement income no longer arrives automatically—it must be created intentionally.
The Role of Annuities
An annuity is an insurance product designed to provide an income stream in retirement – often in the form of a guaranteed “paycheck” for life. Unlike investment accounts that fluctuate with the market, certain annuities focus on stability and predictability. For people funding their own retirement, annuities can help recreate some of the structure pensions once provided.
Annuities in the Age of the 401(k)
A 401(k) is built to help you save and invest during your working years. An annuity is designed to convert savings into ongoing retirement income. Many retirees use both—one to grow money, the other to help ensure income continues throughout retirement.
Building a Personal Retirement Income Strategy
Modern retirement income strategies often combine multiple elements: short-term cash reserves, long-term investments, and annuities that can provide consistent income. Together, these tools help individuals create their own retirement paycheck.
At Ceres Life, we focus on offering people modern annuities that fit into a broader retirement income plan—not as a single solution, but as part of a thoughtful strategy.
The New Retirement Reality
Funding your own retirement is now the norm. While this shift places more responsibility on individuals, it also creates opportunities for more flexible and personalized retirement income planning. With the right knowledge and approach, today’s retirees can build income designed to last as long as they do.