Longer retirements create financial responsibility, since the longer we live, the longer our money has to last. It's no wonder, then, that people in the mature market are worried about outliving their incomes, and want to know how to avoid it. The days of employer-pay-all pensions are about over; the era of do-it-yourself retirement planning, and alternative sources of retirement income, is here.

"Everyone today is essentially self-employed in that they have to take control of their retirement planning," says David Carey, publisher of Smart Money. Writing in the April 24, 1995 edition of Newsweek, economist, Robert J. Samuelson concludes, "We need to adapt new social conditions. People live longer; they should work longer. Older Americans are wealthier; they should be more responsible for themselves."

To live comfortably in retirement, many retirees find they need 80 percent of their pre-retirement income, or more, depending on their personal plans. In addition to funding a long retirement, people need protection against inflation and financial emergencies. "Most retirees must not only preserve capital, but must add to it until at least their mid-70s," Value Line analysts say. "Otherwise, they risk losing ground to inflation or, worse, running out of money later in life."

Ideally, planning for retirement is a process that continues for much of a person's adult life. At the same time, while retirement planning should be a life-long endeavor, it's never too late to start. Although the window of opportunity is rapidly closing, even people who begin as late as age 50 can still accumulate substantial sums, and maintain their standard of living throughout a long retirement, if they plan effectively and make the most of their investment options.

When people retire, they look for income from three sources to replace their paychecks — what might be referred to as the "three legs of retirement planning." The first leg is Social Security. The second is personal savings, including individual retirement accounts and self-employed retirement plans. The third is employer pensions and/or 401(k) plans.

Problem: For several generations of retirees, these sources have been trusted, safe and automatic. However, the future of the Social Security system is uncertain and businesses are shifting more of the responsibilities associated with retirement to their workers. Under pressure from the rising cost of employee benefits, companies are turning to programs in which employees bear all or part of the cost of retirement planning, along with the risks.

People have financial objectives beyond the protection and accumulation needs and wants life insurance or annuity products fill. These objectives can often be met with investments. If income is "people at work," investments are "money at work" — that is, the income or growth that results from committing money to a financial product.

Investors today face an uncertain world. Uncertain inflation and interest rates, ever-changing tax codes and sophisticated consumer attitudes have made investment choices more numerous and investment decisions more complex than ever.

People are increasingly concerned about their family's financial future — education, parental care, and, perhaps most of all, not running out of income at retirement. Clients need and want help from representatives and companies they can trust in understanding investment choices and making the right investment decisions.

Solution: These concerns provide an opportunity for Ohio National to market and sell a carefully managed portfolio of financial service products. In addition to traditional products, insurance and annuities, mutual funds enable customers to choose the best possible plans to secure their financial futures.