Investable retirement assets of U.S. households headed by individuals over the age of 55 will hit $22 trillion by 2020. That’s nearly double what it was in 2010, according to research from LIMRA, an industry-funded research group.

In 2010, pre-retirees defined as individuals between the age of 55 and 64 had $6.1 trillion in investable assets.  Retirees had $5.9 trillion.  By 2020, that’s expected to swell to $10.2 trillion and $11.4 trillion, respectively, according to LIMRA.

The research estimates that almost two-thirds of the projected $22 trillion will be directed towards products that will generate income for Americans in retirement, creating a huge opportunity for the financial services industry.

“With such a large demand, advisors may have to provide income product solutions more efficiently,” Jafor Iqbal, associate managing director of LIMRA Retirement Research, said in a statement.  “We are witnessing financial services firms changing the structure and business model to accommodate more customer-centric information and process.”

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