Securian Retirement Plans: Complete Guide & Review (2024)

Securian Financial opened its doors in St. Paul, Minnesota, in 1880. Since then, the company has remained a fixture in the city. While it started small, Securian has expanded into a financial powerhouse. Today, it offers financial services, life insurance, annuities, trust management, and many others.

Securian will craft a customized plan to meet your unique goals when you’re ready to plan for retirement. You also get help with every step from a financial advisor to keep you on track to reach each milestone in your plan.

If you’re in need of help planning for your future, Securian retirement plans might be the roadmap to the financial security you need. If you’re interested in further financial planning for your loved ones, you should also consider life insurance. Enter your ZIP code into our free tool to see what quotes might look like for you.

What are retirement plans?

For most people, work is a huge part of their lives. For some lucky people, work is a sense of pride. For others, it’s just a way to make a living. Regardless of how much you love your job, the end goal is always the same: Retirement. Unfortunately, retiring is a challenge for most, especially in today’s economy. A sad fact for American workers is that 56% of them believe they will need to work past the age of 65 before they can retire, and 35% think they’ll never get to retire.

No one wants to spend their golden years worrying about finances. This is why retirement planning is crucial.

The first step of a retirement plan is the creation of financial goals, which is what a financial help you with. Your advisor will help you determine if your goals are realistic. If your goals aren’t, they can advise you on making them practical or what you need to do to reach them.

When your goals are set, your advisor will craft a plan to reach them. Your retirement plan will be unique for you, but your advisor will typically consider your income, expenses, assets, and savings.

The best time to start retirement planning is when you’re young, but that doesn’t always happen. In fact, many people don’t start thinking of retirement until they’re much closer to it. While it’s best to begin in your youth, it’s never too late to start.

Read more: Life Insurance vs Roth IRA: Which is better for retirement?

Securian Financial Retirement Plans

Securian promises a customer-centered experience with its retirement plans. With a Securian retirement center login, you’ll have every tool Securian offers at your fingertips. Securian’s financial advisors will help you every step of the way to craft the perfect goals for your retirement.

Securian has honed its financial process through years of experience. To begin, your advisor will interview you about what’s important to you for your retirement. They’ll ask about your plans: Do you plan to travel? Do you have dependents?

Once they have an idea of what you need, you’ll craft your goals with your advisor’s help. You’ll make both short-term and long-term goals to help move your finances gradually in the right direction. When your retirement plan is complete, you’ll have a map from where you’ll likely be through your retirement.

Financial Analysis for Your Retirement Plan

Having your retirement plan goals is a great start, but you’ll need more than that. You need a plan to help you reach each milestone in your financial map.

With the Securian retirement calculator, your advisor will dive into all of your sources of income and debt. That includes work income, investments, loans, dependent costs, and tax liabilities. When all of that information is calculated, your advisor will create a feasible path to your retirement.

Securian promises advisors with the financial experience and know-how to spot unrealistic goals and develop creative solutions for your needs. Once you have your retirement plan in hand, your advisor will continue to meet with you. Periodic reviews will help you keep your finances on track for retirement.

How to Withdraw from Securian Retirement Plans

You obviously have your eye on your future when you’ve set up a retirement plan. Sometimes though, life throws you a curveball you just weren’t prepared for. Financial hardship can happen for any reason at any time. For example, the onset of the COVID-19 pandemic left many Americans unable to work. When you have a retirement plan (such as a 401k), it can be a valuable asset to keep your family afloat while you get back on your feet.

However, withdrawing funds from a retirement plan can be tricky. The government takes a large tax cut from money drawn from a retirement fund before you retire, and many companies have expensive associated fees. During the COVID-19 pandemic, Securian announced that it was doing away with withdrawal fees. The company plans to continue this practice into the future indefinitely so that all Securian retirement hardship withdrawals will be free, regardless of the cause of hardship.

Securian Financial Reviews

Securian can make as many promises as it wants on its site, but what that tells you if a company is worth investing in are customer reviews.

An easy place to start is with professional ratings. For example, A.M. Best rates companies on their financial strength to give an idea of their reliability when it comes to paying out claims. Securian earned an A+, which is the second-highest ranking possible.

The National Association of Insurance Commissioners (NAIC) compiles ratings for insurance companies based on complaint numbers. The national average is 1.0. If a company has higher than a 1.0, their complaint level is considered high. Lower than 1.0 means the company is doing well. While it has little to do with retirement planning, Securian’s NAIC rating of 3.66 is troubling. That’s almost four times higher than the national average. If Securian’s insurance products receive so many complaints, it doesn’t bode well for its other products.

The good news is that online customer reviews tend to be positive, at least for retirement services. Customers like that they have so many options and can get multiple financial services from Securian. On the negative side, you can’t get quotes online – you’ll need to call the Securian retirement phone number to get started. Customers also complain that it can be difficult to withdraw money from retirement accounts.

Read more: Securian 401(K): Complete Guide & Review

Find the Best Insurance for Your Future

Securian isn’t without customer complaints, but it has a solid reputation for its financial services. You can contact a Securian agent to get started on the financial plan for your future. Since Securian’s retirement plans are considered reliable, it might be the best option for your retirement.

If Securian retirement plans sound right for you, you should consider other services like life insurance. Enter your ZIP code into our free tool to see what rates might look like for you.