Forget retiring to a tony townhouse or a beach property in a warm climate. Clients are more concerned about having enough money for daily necessities, according to financial advisers polled by Sun Life Financial recently.A whopping 92% of advisers who responded to the Sun Life Financial study said their clients change their retirement income plans after retirement mainly to avoid running out of money, or to meet non-discretionary costs. More than one third, 34%, said clients adjust their plans to cover essentials, like unexpected healthcare costs. Just 21% said clients adjust plans to have more money for discretionary spending. Sun Life polled 477 financial advisers in March for the study.

Financial advisers know this means clients will be looking to them to fashion a plan to avert those potential cash shortfalls. Variable annuities, for all of the misgivings that financial advisers sometimes express about them, particularly on the independent side, are getting more attention as a potential solution.

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