--- description: Breaking news and analysis from time.com. Politics, world news, photos, video, tech reviews, health, science, and entertainment news. title: Revolutionize Your Retirement: The Power of Lifetime Income image: https://static.time.com/v3/assets/bltea6093859af6183b/blt87fe578ab04025a1/6a4b522ad4269e82949cd502/gettyimages-2174119314.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 --- # Revolutionize Your Retirement: The Power of Lifetime Income  When Dr. Gerald Meyer stepped away from his career as a chemistry professor and dean back in 1990, he had every intention of defying the conventional retirement script. While his former colleagues settled into golf games and grandparent duties, Meyer had something a little more adventurous in mind. By his mid-80s, he was thundering across Alaska on a Harley to deliver a presentation at a scientific conference. He became a regular competitor at the National Senior Games. And rather than winding down vocational pursuits, he launched a second act as an entrepreneur in the green energy space. Now 106, he continues to defy expectations. This remarkable retirement journey has surprised no one as much as Meyer himself; his multi-decade, post-academia path has exceeded even his ambitious forecasts. “A chart says your lifetime is supposed to be so and so,” he told TIAA. “I’m way beyond that.” Surya Kolluri, head of the TIAA Institute, a think tank within TIAA that conducts research on retirement security, longevity and healthy aging, points out that Dr. Meyer is far from alone in this experience. The number of Americans living to 90 or older nearly [tripled](https://www.census.gov/newsroom/releases/archives/aging%5Fpopulation/cb11-194.html#:~:text=17%2C%202011-,Census%20Bureau%20Releases%20Comprehensive%20Analysis%20of%20Fast%2DGrowing%2090%2Dand,likely%20to%20reach%2010%20percent. "undefined")​ between 1980 and 2010, and it's projected to triple again in the next 15 years. [Large national studies](https://pmc.ncbi.nlm.nih.gov/articles/PMC4866586/?utm%5Fsource=chatgpt.com "undefined")​ also show that higher-income, better-educated Americans tend to live significantly longer, often by a decade or more, than the national average. Few people expect a thirty-plus-year retirement; even fewer plan for one from a financial perspective. For those who underestimate the time horizon, a longer lifespan can cause significant strain. “This situation often leads to difficult financial decisions. And it’s a profoundly difficult equation for economists to solve, let alone individuals,” says Kolluri.  ## The Four Dimensions of Longevity Risk Meyer's story is becoming less of an outlier. Life expectancy in the United States has risen from [47 in 1900](https://www.cdc.gov/nchs/data-visualization/mortality-trends/index.htm "undefined")​ to nearly 79 today. “More and more, it feels like we're headed for 100-year lives,” says Kolluri. But most people underestimate their longevity, on average by about 10 years. And that lack of awareness can have real consequences. When people assume they’ll live shorter lives, they often save less, skimp on planning for long-term health needs, or overlook the social and emotional support structures required to sustain well-being over time. These miscalculations ripple across what TIAA identifies as the [four key longevity risks](https://www.tiaa.org/content/dam/tiaa/institute/pdf/research-brief/2025-09/tiaa-institute-the-four-longevity-risks-to-manage-for-a-fit-100-year-life-voee-kolluri-richardson-august-2025.pdf "undefined")​ of later life: financial, cognitive, physical, and social. Two of those categories (physical and cognitive) focus on the body and mind, and encompass conditions like diabetes, which affects more than one in ten adults worldwide,\[1\]​ and Alzheimer's disease, which more than 7 million Americans are living with today.\[2\] Both of those risk categories feed directly into the third dimension, financial risk. A single serious health event can trigger cascading costs, from insurance to in-home care, and neurodegenerative conditions can result in diminished ability to manage household finances. Other financial risk factors include simply outliving one’s savings, inflation, or investment volatility, especially during downturns that impact portfolios just as retirees begin drawing down their nest eggs. The fourth dimension centers on social risk, which Kolluri describes as perhaps the most under-the-radar category. As people age, they retire, relocate, or experience the loss of loved ones. This means their social networks contract precisely when support is most critical. And the health consequences of loneliness and social isolation are so great, in fact, that in 2023 the U.S. Surgeon General declared them a [looming public health crisis](https://www.hhs.gov/sites/default/files/surgeon-general-social-connection-advisory.pdf "undefined"). These realities simply don't align with the traditional retirement planning roadmap, which tends to emphasize a singular focal point: a target amount of retirement assets (i.e., “What is my number?”). Kolluri argues that this framing of retirement is limited. “As we live longer, we need to help people not just reach retirement, but also find dignity, purpose, financial security, and healthier ways to age,” he says. “ > “As we live longer, we need to help people not just reach retirement, but also find dignity, purpose, financial security, and healthier ways to age.”” Surya P. Kolluri, Head of TIAA Institute  ## Longevity Literacy, Longevity Fitness, and Prioritizing 'Lifetime Income' The Institute is currently working to elevate the idea of [longevity literacy](https://www.tiaa.org/content/dam/tiaa/institute/pdf/insights-report/2024-02/from-longevity-literacy-to-longevity-fitness.pdf "undefined"), or accurate knowledge of how long people actually tend to live upon reaching retirement age. This is foundational, as individuals need this insight to effectively plan and prepare for retirement. The idea is closely tied to another approach TIAA is on the forefront of: “[Longevity fitness](https://www.tiaa.org/content/dam/tiaa/institute/pdf/research-brief/2025-09/tiaa-institute-measuring-longevity-fitness-the-unit-of-health-voee-sept2025.pdf "undefined"),” which is essentially longevity literacy put into action. “Longevity fitness is our capacity to extend vitality, purpose, and function into the years ahead,” explains Kolluri. Both ideas are essential for navigating longer lifespans with confidence. TIAA Institute's [research](https://www.tiaa.org/content/dam/tiaa/institute/pdf/insights-report/2023-01/longevity%5Fliteracy%5Ffinancial%5Fliteracy%5Fand%5Fretirement%5Freadiness.pdf "undefined")​ demonstrates that individuals with higher longevity literacy exhibit markedly better retirement preparation behaviors: They’re more likely to calculate their actual income needs, budget realistically for healthcare, evaluate withdrawal strategies more carefully, and incorporate guaranteed income products into their planning. To that last point, TIAA provides lifetime income solutions, or what most people know as annuities. TIAA first introduced such solutions more than 100 years ago, before Social Security even existed. “For decades, we've advocated that Social Security alone isn't sufficient,” says Kolluri, noting that in most cases, it replaces only about 30-40% of pre-retirement income. With many Americans now facing retirements that could span many decades, that shortfall is even more consequential. Today, many workers can contribute to annuities directly through their employer-sponsored retirement plans. When they retire and choose to annuitize part of their savings, those assets convert into regular payments, often guaranteed for life. In effect, this creates a predictable income stream that continues no matter how long someone lives. There are other benefits of lifetime income. For one thing, there's a meaningful psychological component to simplified financial management. Knowing ​ that income will arrive regularly offers retirees a sense of stability and security, because they worry less about making their savings last. “When people have a steady paycheck, they stop being reluctant spenders, and they have more confidence,” says Kolluri. “When retirees keep spending, it’s good both for them and for the country’s economy.” Ultimately, he notes, what lifetime income provides is the freedom to actually live retirement rather than face uncertainty. “The term ‘lifetime income’ emphasizes a fundamental shift in thinking, from asking, ‘How are my investments doing?’ to, ‘How do I ensure income that will last the rest of my life?’ This reframing is critical because you can't just get to retirement; you have to get through​ it,” says Kolluri. “And unfortunately, hope is not a prudent financial strategy.”  ## Building a Retirement System That Supports 100-Year Lives The onus isn’t just on retirees to prepare for longer lives. TIAA and TIAA Institute are pushing for systems-level change, partnering with researchers, thought leaders, and influencers to reshape how the country as a whole approaches aging. For employers and policymakers, longer lifespans mean extending wellness and financial-readiness initiatives beyond the working years. For financial advisors, it should mean redirecting conversations away from account balances and toward reliable income streams that can weather multi-decade retirements. [TIAA's Retirement Bill of Rights](https://www.tiaa.org/public/learn/retirement-planning-and-beyond/retirement-bill-of-rights "undefined")​ is a set of principles that defines what every American worker should reasonably expect with respect to retirement savings, investment choices, and securing retirement income. The framework outlines four core pillars: 1. Every worker has the right to save for and achieve a financially secure retirement. 2. Workers should have access to low-cost investment options that provide sufficient income. 3. Workers deserve clear, comparable information to make informed financial choices. 4. Workers should have coordinated public-private support, including access to lifetime income options. “We firmly believe in these \[core tenets\] for all Americans, not just TIAA clients,” says Kolluri. As for what all this societal and demographic change means on an individual level, Meyer's story offers living proof that proper planning can turn extended longevity from uncertainty to a sense of purpose and opportunity. His journey aptly illustrates Kolluri’s central argument: “Living longer is not just about surviving; it’s about thriving,” he says, echoing Andrew Scott’s words from The 100-Year Life. “The gift of longevity is a chance to reshape life’s journey.” To learn more about planning for a longer, more secure retirement, visit [TIAA.org](http://tiaa.org "undefined"). --- 1. International Diabetes Federation, Nov. 2021 https://idf.org/news/diabetes-now-affects-one-in-10-adults-worldwide/ 2. Alzheimer's Association, https://www.alz.org/alzheimers-dementia/facts-figures --- ### Disclosures: #### This material is for informational or educational purposes only and is not fiduciary investment advice, or a securities, investment strategy, or insurance product recommendation. This material does not consider an individual’s own objectives or circumstances which should be the basis of any investment decision. #### Annuities issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY. #### Any guarantees under annuities issued by TIAA are subject to TIAA’s claims-paying ability. #### TIAA Institute is a division of Teachers Insurance and Annuity Association of American (TIAA), New York, NY [TIAAInstitute.org](https://TIAAInstitute.org "undefined") #### ©2025 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017 #### 5022995  [Learn more](https://www.tiaa.org/) Revolutionize Your Retirement: The Power of Lifetime Income ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/branded-content/tiaa/support-your-retirement-dreams-with-assurance-of-lifetime-income/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/branded-content/tiaa/support-your-retirement-dreams-with-assurance-of-lifetime-income/"},"headline":"Revolutionize Your Retirement: The Power of Lifetime Income","datePublished":"2026-06-18T14:28:06.829Z","dateModified":"2026-05-25T07:35:22.286Z","description":"","url":"https://time.com/branded-content/tiaa/support-your-retirement-dreams-with-assurance-of-lifetime-income/","keywords":[],"thumbnailUrl":"","author":[],"articleSection":"","image":[],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://time.com/branded-content/tiaa/support-your-retirement-dreams-with-assurance-of-lifetime-income/","name":"Revolutionize Your Retirement: The Power of Lifetime Income"}}]}] ```