2009 Morgan Stanley Smith Barney LLC. Member SIPC.

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "2009 Morgan Stanley Smith Barney LLC. Member SIPC."

Transcription

1 Preparing for Retirement: What You Need to Know 2009 Morgan Stanley Smith Barney LLC. Member SIPC.

2 Preparing for Retirement Envision the Next Chapter Understand the Risks Develop a Plan 2

3 Envisioning the Next Chapter How You Want to Spend Your Retirement Years 2009 Morgan Stanley Smith Barney LLC. Member SIPC.

4 Your Idea of Retirement What does retirement mean to you? Picture collecting your last paycheck. How old will you be? What will you spend it on? What feelings do you have about possibly working in retirement? Do you feel healthy and are there any reasons you wouldn t assume normal life expectancy? Have you thought about long-term care arrangements and how you will pay for it? Are your parents currently alive? Do you expect you will need to help them out? Are there charities you would like to support? How would you like family and friends to remember you? 4

5 Target a Retirement Date But Stay Flexible The average retiree today retired at 62, but the average worker expects to retire at Delaying can have a big impact Higher Social Security benefits Ability to keep making retirement plan contributions Continued growth potential for existing savings Shortens the time retirement savings must last % Increase in Annual Retirement Income 2 60% 50% 40% 30% 20% 10% 0% 9% 56% Work one more year Work five more years 1 Data: Employee Benefit Research Institute, Will More of Us Work Forever? The 2006 Retirement Confidence Survey, EBRI Issue Brief No. 292, April Data: Urban Institute, Should People Work Longer, and Will They? December

6 It Can Pay to Delay Social Security Your monthly Social Security benefits can vary substantially depending on when you elect to start receiving benefits. The chart assumes a benefit of $1,000 at a full retirement age of 66. Monthly Benefit Amount Data: Social Security Administration 2009 Age You Choose to Start Receiving Benefits 6

7 How Long Will Your Retirement Last? Estimating how long retirement will last is a combination of guesswork, current health, family history and individual habits Use average life expectancy for your age as a starting point Adjust for personal health, habits (smoking, drinking, exercise, current fitness), family history and longevity Add 3+ years (the more years added, the more conservative your planning will be) Use individual life expectancy for the spouse expected to live the longest, or the life expectancy for a couple % Chance of Survival for a 65 year-old* To Age Male Female % 93.9% % 85.0% % 72.3% % 55.8% % 34.8% % 15.6% % 5.0% *Data: Annuity 2000 Mortality Table, Society of Actuaries 7

8 What Will You Be Paying For? Budget Worksheet Housing Mortgage/Rent/Condominium Fees Property Taxes Utilities Homeowner s Insurance Household Maintenance Food At Home (Groceries) Dining Out Transportation Vehicle Purchases or Lease Payments Auto Insurance & Taxes Fuel & Maintenance Public Transportation Health Care & Insurance Co-pays, Deductibles, Medical Services Medicare / Medigap Premiums Drugs & Medical Supplies Dental, Hearing, Vision Life Insurance Long-term Care Insurance Disability Insurance Personal Care Clothing Products & Services (haircuts & dry cleaning) Other Gifts/Charitable Contributions Entertainment/Recreation Travel/Hobbies Family Care (Parents & Children) Income Taxes Total Estimated Retirement Expenses Essential Discretionary 8

9 What Assets Will Be Available To Fund Your Retirement? Net Worth Worksheet Financial Assets Cash Taxable Fixed Income Tax-free Fixed Income Stocks Other Total $ Personal Assets Homes Vehicles Jewelry Other Property Total $ Retirement Assets 401(k) Pension Plans IRAs Insurance Policies Other Total $ Liabilities Mortgages Credit Card Other Loans Total $ Total Assets - Liabilities = Net Worth 9

10 How Will Your Spending Change Over Time? Will your spending stay the same for 30 years or more? Break your expected spending into three phases The active phase (First 8 12 years) Spontaneous desires requiring cash flow (uneven needs for income) Relatively healthy period The deceleration phase (Next 8 12 years) Spending may level out, usually lower income needs Becoming less active The maintenance phase (Last 8 12 years) Generally steady cash flow needs Income needs may rise as health care costs increase Possible long-term care expenses 10

11 Where Will Your Retirement Income Come From? Social Security Pension Working in retirement Rental income Inheritance Retirement plan distributions Investment Income Interest Dividends Appreciation Principal 19% Sources of Retirement Income 18% 2% 21% 40% Earned Income Pensions* Social Security Investment Income Other Data: Morningstar, 3/1/07 *Includes all defined benefit and defined contribution plans 11

12 Understanding the Risks Challenges to achieving a successful retirement 2009 Morgan Stanley Smith Barney LLC. Member SIPC.

13 Potential Pitfalls Longevity Risk Planning for a longer-than-expected life Inflation Risk Preserving purchasing power over time Market Risk Timing of a bear market Asset Allocation Risk Managing a portfolio with multiple objectives Spending Risk Funding your lifestyle without depleting your portfolio Health Care Costs Catastrophic illness or long-term care Family Responsibilities Aging parents and boomerang children Decline in Guaranteed Income Uncertainty of traditional retirement income sources 13

14 Longevity Risk (Risk of Outliving Your Money) Life expectancy numbers are an average, meaning some people will die prior to their life expectancy and some will live beyond it. Life expectancy is not static and increases steadily with age. Life Expectancy for a 65-year-old Source: Annuity 2000 Mortality Table, Society of Actuaries (Figure assumes a person is in good health) *Couple both age 65 14

15 Inflation Risk $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Purchasing Power of $100,000 $82,035 $74,409 $67,297 $67,556 $55,368 $55,207 $45,639 $41,199 $30,832 Year 5 Year 10 Year 15 Year 20 Year 25 Year 30 2% Inflation 3% Inflation 4% Inflation For illustrative purposes only. 15

16 Market Risk (Risk of Bad Timing) Portfolio A Portfolio Value (start at $1 million) Return Year 1 $736, % Year 2 $552, % Year 3 $525, % Year 4 $515, % Year 5 $406, % Year 6 $386, % Year 7 $334, % Year 8 $270, % Year 9 $201, % Year 10 $127, % Year 11 $44, % Year 12 $ % Year 13 $ % Year 14 $ % Year 15 $ % Portfolio B Portfolio Value (start at $1 million) Return Year 1 $1,133, % Year 2 $1,224, % Year 3 $1,353, % Year 4 $1,542, % Year 5 $1,686, % Year 6 $1,772, % Year 7 $1,812, % Year 8 $1,836, % Year 9 $1,889, % Year 10 $2,090, % Year 11 $1,825, % Year 12 $1,951, % Year 13 $2,001, % Year 14 $1,556, % Year 15 $1,139, % Average annual return = 6.12% Average annual return = 6.12% Data: Morgan Stanley Smith Barney. For illustrative purposes only. Assumes annual withdrawal of 6% (indexed for inflation at 4% per year). Assumes withdrawals are taken on first of every year. Portfolio value as of December 31 st. Past performance is no guarantee of future results. 16 Actual results may vary. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. These strategies do not guarantee a profit or protect against loss and may not be suitable for all investors.

17 Asset Allocation Risk Too much stock can expose portfolio to bear market risk and loss of capital and income Too much cash and fixed income can expose portfolio to inflation risk and limit upside potential Preservation of Purchasing Power (growth) Capital Preservation (principal protection) Retirement Portfolio Objectives Reliability of Income (income) 17

18 Spending Risk Excessive withdrawals can exhaust a portfolio too soon On the other hand, being too conservative may cause you to unnecessarily sacrifice a higher standard of living in retirement Withdrawal rate should be based on: Life expectancy Asset allocation Retirement date Portfolio value 18

19 Health Care Costs Retiree medical costs rising faster than general inflation Declining retiree medical coverage by employers Possible shortfall ahead for Medicare and Medicaid 60% of Americans who reach age 65 will need long-term care at some point 1 Saving Need for Health Care Expenses 2 Age at Death For an Individual For a Couple 80 $115,000 $230, $162,000 $324, $214,000 $428, $275,000 $550, $343,000 $686,000 1 Data: Centers for Medicare and Medicaid Services 2 Data: EBRI Issue Brief No.295 (July 2006). Assumes retirement at age 65. Savings needed for employment-based health premiums, Medicare part B premiums, and out-of-pocket costs assuming a 4% after-tax rate of return and 7% increase in health care costs. Couple costs assume they live to the same age. 19

20 Family Responsibilities - The Sandwich Generation Responsibilities for children and parents can be a burden. 20

21 Uncertainty of Traditional Retirement Income Sources Pension plans in decline Fate of Social Security uncertain The normal retirement age for Social Security has risen from 65 for those born in 1937 and before, to 67 if you were born in 1960 or later. Data: Employee Benefit Research Institute 21

22 Developing a Plan Don t Panic! 2009 Morgan Stanley Smith Barney LLC. Member SIPC.

23 It s Never Too Late to Develop a Financial Plan: Envision: the kind of lifestyle you enjoy, what you want to accomplish, what worries you, what you re passionate about Prepare: a written plan that addresses your retirement income and cash flow needs, investments, borrowing, asset protection and other areas of your financial life Implement: your plan with an objective approach, paying special attention to how the various parts of your plan affect, enhance and integrate with each other 23

24 Financial Planning: Withdrawal Rates How much can you withdraw from your nest-egg each year? 10 Years Annual Rate of Withdrawal Adjusted for 4% Inflation 13 Years 18 Years 32 Years Years Nest-egg May Last Source: Morgan Stanley Smith Barney. Hypothetical illustration of withdrawing varying percentages annually from a retirement account. Assumes a 6% annualized rate of growth in the account, a 4% rate of inflation applied to the withdrawal amounts and a distribution of the entire needed amount in the final year. Past performance is no guarantee of future results. Actual results may vary. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. These strategies do not guarantee a profit or protect against loss and may not be suitable for all investors. 24

25 Financial Planning: Income Replacement How much will you need to support yourself (and any dependents) through the rest of your life? For example: Will a nest-egg of $400,000 generate enough income each year at a 4% withdrawal rate? 4% of $400,000 is $16,000 distributed in the first year. Would this amount (adjusted annually to keep up with inflation), combined with Social Security and any other sources of income be enough to replace about 75% of your current income? 25

26 Financial Planning: Sustaining Your Lifestyle How much money do you need to fund 75% of your current lifestyle? Assume a pre-retirement annual income of $50,000 and a retirement nest-egg of $400, % of $50,000 = $37,500 or $3,125 monthly Distribute 4% from retirement account annually = $1,333 monthly (first year) Social Security = $1,348 monthly (retiring at age 66) Monthly deficit = $444 Monthly Deficit $444 $1,348 from Social Security $1,333 from Retirement Account Source: Morgan Stanley Smith Barney. Hypothetical illustration of sources of income in retirement. Social Security Benefits estimated from Social Security Quick Calculator at Social Security website; calculated using $50,000 current earnings, age 66 in 2009 at retirement, using Today s Dollars. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. These strategies do not guarantee a profit or protect against loss and may not be suitable for all investors. 26

27 Next Steps Pre-retirement Checklist Establish a retirement income plan Create a cushion for financial emergencies and bear markets Talk to your employer about your post-retirement benefits Check on your Social Security benefits Update and execute all beneficiary forms, estate documents and powers of attorney Budget for health care and long-term care needs Consider reducing debt Review life insurance policies 27

28 Important Disclosures Although statements of facts in this report have been obtained from and are based upon sources the Firm believes to be reliable, including the Internal Revenue Service, we do not guarantee their accuracy, and any such information may be incomplete or condensed. All options and estimates included in this report constitute the Firm s judgment as of the date of the report and are subject to change without notice. This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Morgan Stanley Smith Barney LLC and its affiliates do not provide tax or legal advice. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. This material, or any portion thereof, may be reproduced with prior written permission from Morgan Stanley Smith Barney Morgan Stanley Smith Barney LLC. Member SIPC. 28

29 Preparing for Retirement 2009 Morgan Stanley Smith Barney LLC. Member SIPC.

A FIVE-STEP CHECKLIST FOR RETIREMENT INCOME PLANNING

A FIVE-STEP CHECKLIST FOR RETIREMENT INCOME PLANNING 77 Access Road, Suite 6, Norwood, MA 02062 Tel (781) 278-9488 Fax (781) 278-9489 www.proficientwealth.com A FIVE-STEP CHECKLIST FOR RETIREMENT INCOME PLANNING STEP 1 Expense Inventory Estimate monthly

More information

GUARANTEES. Income Diversification. Creating a Plan to Support Your Lifestyle in Retirement

GUARANTEES. Income Diversification. Creating a Plan to Support Your Lifestyle in Retirement GUARANTEES growth FLEXIBILITY Income Diversification Creating a Plan to Support Your Lifestyle in Retirement Contents Build a Retirement Plan that Can Last a Lifetime 2 Retirement Is Different Today 4

More information

Resource Guide. Creating a plan for lifetime income in retirement

Resource Guide. Creating a plan for lifetime income in retirement Resource Guide Creating a plan for lifetime income in retirement Freedom in retirement starts with income in retirement When it comes to planning for your future, nothing should be left to chance. That

More information

Retirement Income Planning Worksheet

Retirement Income Planning Worksheet Retirement Income Planning Worksheet Build a comprehensive plan A straightforward resource to help gather the data you need Use this simple worksheet to get started on your retirement income plan Your

More information

The Basics of Annuities: Planning for Income Needs

The Basics of Annuities: Planning for Income Needs March 2013 The Basics of Annuities: Planning for Income Needs summary the facts of retirement Earning income once your paychecks stop that is, after your retirement requires preparing for what s to come

More information

Susan & David Example

Susan & David Example Personal Financial Analysis for Susan & David Example Asset Advisors Example, LLC A Registered Investment Advisor 2430 NW Professional Drive Corvallis, OR 97330 877-421-9815 www.moneytree.com IMPORTANT:

More information

The Basics of Annuities: Income Beyond the Paycheck

The Basics of Annuities: Income Beyond the Paycheck The Basics of Annuities: PLANNING FOR INCOME NEEDS TABLE OF CONTENTS Income Beyond the Paycheck...1 The Facts of Retirement...2 What Is an Annuity?...2 What Type of Annuity Is Right for Me?...2 Payment

More information

Estate & Retirement Income Planning Worksheet

Estate & Retirement Income Planning Worksheet Estate & Retirement Income Planning Worksheet Build Preparations for your retirement- A straightforward resource to help gather the data you need [CLIENT N A M E ( S )]: [D A T E ]: Use this simple worksheet

More information

Thank you for joining: 15 Financial Myths Demystified The webinar will begin shortly. If you are experiencing technical difficulties with Adobe

Thank you for joining: 15 Financial Myths Demystified The webinar will begin shortly. If you are experiencing technical difficulties with Adobe Thank you for joining: 15 Financial Myths Demystified The webinar will begin shortly. If you are experiencing technical difficulties with Adobe Connect, please call 1-800-422-3623. 15 Financial Myths Demystified

More information

Preparing Your Savings for Retirement

Preparing Your Savings for Retirement Preparing Your Savings for Retirement The Retirement Income Series Part 1: Preparing Your Savings for Retirement Identify sources of income, including Social Security Assess the impact of future health

More information

Unlocking the value of whole life

Unlocking the value of whole life An Educational Guide for Individuals Unlocking the value of whole life Whole life insurance as a financial asset Insurance Strategies Contents 3 Whole life insurance: A versatile financial asset 4 Providing

More information

INVESTMENT AND PLANNING SOLUTIONS. Redefine your means in retirement. Member FINRA/SIPC

INVESTMENT AND PLANNING SOLUTIONS. Redefine your means in retirement. Member FINRA/SIPC INVESTMENT AND PLANNING SOLUTIONS Redefine your means in retirement Member FINRA/SIPC INVESTMENT AND PLANNING SOLUTIONS More guaranteed income to count on when you need it to count. It s taking that second

More information

You ve worked hard for your savings. Now keep your savings working hard for you.

You ve worked hard for your savings. Now keep your savings working hard for you. You ve worked hard for your savings. Now keep your savings working hard for you. Retire with confidence A guide to your distribution options. You are now faced with an important financial decision When

More information

Guaranteeing an Income for Life: An Immediate Fixed Income Annuity Review

Guaranteeing an Income for Life: An Immediate Fixed Income Annuity Review Guaranteeing an Income for Life: An Immediate Fixed Income Annuity Review The biggest financial risk that anyone faces during retirement is the risk that savings will be depleted...the risk that income

More information

Turning Savings Into Retirement Income

Turning Savings Into Retirement Income Turning Savings Into Retirement Income Inside: Determining Your Income Needs Funding Your Goals Monitoring Your Retirement Income Plan For more information on BlackRock retirement income solutions, contact

More information

Guaranteeing an Income for Life: An Immediate Income Annuity Review

Guaranteeing an Income for Life: An Immediate Income Annuity Review Guaranteeing an Income for Life: An Immediate Income Annuity Review The biggest financial risk that anyone faces during retirement is the risk that savings will be depleted...the risk that income will

More information

Understanding Annuities

Understanding Annuities Annuities, 06 5/4/05 12:43 PM Page 1 Important Information about Variable Annuities Variable annuities are offered by prospectus, which you can obtain from your financial professional or the insurance

More information

For some reason, a majority of individuals

For some reason, a majority of individuals Life & Health Insurance Advisor info@mmibi.com momentousins.com Your future Our commitment Long-Term Care December 2010 Volume 8 Number 12 How to Get Long-Term Care Coverage Without Buying an LTC Policy

More information

Your fiscal fitness review. Financial wellness tips, tools and checklists from TIAA-CREF

Your fiscal fitness review. Financial wellness tips, tools and checklists from TIAA-CREF Your fiscal fitness review Financial wellness tips, tools and checklists from TIAA-CREF Keeping fiscally fit is more important than ever before No matter where you are in your life and career, chances

More information

EXPAND YOUR RETIREMENT PLANNING HORIZONS

EXPAND YOUR RETIREMENT PLANNING HORIZONS EXPAND YOUR RETIREMENT PLANNING HORIZONS By AXA Association Business Solutions AIA Members Retirement Program Phone: 800-523-1125, Option 3 Web: www.axa2plan.com Email: connection@axa.us.com 1 Important

More information

Retirement Plan Distributions Choices & Opportunities

Retirement Plan Distributions Choices & Opportunities Retirement Plan Distributions Choices & Opportunities Leaving Your Job: Things to Think About» What you want to do next Work full time? Part time? Retire? How much will your lifestyle cost?» Continuing

More information

A lifetime approach to retirement planning

A lifetime approach to retirement planning Financial Planning Update A lifetime approach to retirement planning Unlike earlier generations, individuals planning to retire over the next two decades face a new set of challenges, including an uncertain

More information

Guide to Individual Retirement Accounts. Make a secure retirement yours

Guide to Individual Retirement Accounts. Make a secure retirement yours Guide to Individual Retirement Accounts Make a secure retirement yours Retirement means something different to everyone. Some dream of stopping employment completely and some want to continue working.

More information

The IRA Rollover. Making Sense Out of Your Retirement Plan Distribution

The IRA Rollover. Making Sense Out of Your Retirement Plan Distribution The IRA Rollover Making Sense Out of Your Retirement Plan Distribution Expecting a Distribution? You have been a participant in your employer s retirement plan for a number of years, and you have earned

More information

Variable Annuities Because Retirement Requires a New Way of Thinking

Variable Annuities Because Retirement Requires a New Way of Thinking Pacific Life Variable Annuities Because Retirement Requires a New Way of Thinking 13141-12A 5/12 5/15 13141-15A As You Plan for Retirement, Think Differently Whether you re approaching retirement or already

More information

A Powerful Way to Plan: The Grantor Retained Annuity Trust

A Powerful Way to Plan: The Grantor Retained Annuity Trust Strategic Thinking A Powerful Way to Plan: The Grantor Retained Annuity Trust According to The Taxpayer Relief Act of 2010, the estate and gift exemption amount has been increased temporarily, for 2011

More information

What to Consider When Faced With the Pension Election Decision

What to Consider When Faced With the Pension Election Decision PENSION ELECTION Key Information About Your Pension (Optional Forms of Benefits) Pension Math and Factors to Consider Pension Maximization What Happens if Your Company Files for Bankruptcy and Your Company

More information

Retirement income planning Get ready. Take control. Start moving.

Retirement income planning Get ready. Take control. Start moving. Retirement income planning Get ready. Take control. Start moving. Your future is too important to leave it to chance. That s why taking control of your retirement with an organized, practical approach

More information

Pacific. Income Provider. A Single-Premium, Immediate Fixed Annuity for a Confident Retirement. Client Guide 9/15 80002-15A

Pacific. Income Provider. A Single-Premium, Immediate Fixed Annuity for a Confident Retirement. Client Guide 9/15 80002-15A Pacific Income Provider A Single-Premium, Immediate Fixed Annuity for a Confident Retirement 9/15 80002-15A Client Guide Why Pacific Life Pacific Life has more than 145 years of experience, and we remain

More information

Vertex Wealth Management LLC 10/22/2013

Vertex Wealth Management LLC 10/22/2013 Vertex Wealth Management LLC Michael J. Aluotto, CRPC President Private Wealth Manager 1325 Franklin Ave., Ste. 335 Garden City, NY 11530 516-294-8200 mjaluotto@1stallied.com Retirement Basics 10/22/2013

More information

Retirement: Protecting Your Financial security. Oak Ridge 401(k) Savings Program

Retirement: Protecting Your Financial security. Oak Ridge 401(k) Savings Program Retirement: Protecting Your Financial security. Oak Ridge 401(k) Presented by Alan Still Education Specialist Schwab Retirement Plan Services Company Overview of today s presentation The Importance of

More information

36714BGA 10/06/06 PLAN FOR LIVING CREATING A RETIREMENT INCOME PLAN

36714BGA 10/06/06 PLAN FOR LIVING CREATING A RETIREMENT INCOME PLAN 36714BGA 10/06/06 PLAN FOR LIVING CREATING A RETIREMENT INCOME PLAN ABOUT GENWORTH FINANCIAL When it comes to the difficult task of understanding insurance and investments, most people will do just about

More information

Personal Financial Plan. John & Mary Sample

Personal Financial Plan. John & Mary Sample For Prepared by Donald F. Dempsey Jr. PO Box 1591 Williston, VT 05495 802-764-5815 This presentation provides a general overview of some aspects of your personal financial position. It is designed to provide

More information

Financial Strategies for the 21st Century

Financial Strategies for the 21st Century 2 The Life Cycle 2 The Wealth Management Model 3 Putting the Pieces Together online report consulting group Strategies for the 21st Century summary a brief introduction to managing your wealth While individuals

More information

Healthcare costs in retirement

Healthcare costs in retirement Healthcare costs in retirement Preparing today to help protect your wealth tomorrow Options for handling distributions, rollovers and conversions Life s better when we re connected Preparing for healthcare

More information

Your fiscal fitness review. Financial wellness tips, tools and checklists from TIAA-CREF

Your fiscal fitness review. Financial wellness tips, tools and checklists from TIAA-CREF Your fiscal fitness review Financial wellness tips, tools and checklists from TIAA-CREF Keeping fiscally fit is more important than ever before. No matter where you are in your life and career, chances

More information

Business Executive Services. Making Wealth Work for the Business Executive

Business Executive Services. Making Wealth Work for the Business Executive Business Executive Services Making Wealth Work for the Business Executive Work Business Executive Services (BES) was created to help unleash the full power of your company s benefits and compensation programs.

More information

Cash Flow and Asset Analysis

Cash Flow and Asset Analysis Jim and Sally Sample for: Jim and Sally Sample 04/21/2015 $1,600,000 Assets + Estimated Entry Fee Refund $1,200,000 $800,000 $400,000 $0 1 2 3 4 5 6 7 8 9 10 11 Total assets at the end of each year Estimated

More information

Federal Tax and Capital Gains: Rates Over Time

Federal Tax and Capital Gains: Rates Over Time Preparing for a World of Higher Taxes Are You Ready? Presented by: Matt Sommer, CFP, CPWA, AIF Director and Senior Retirement Specialist, Retirement Strategy Group C-0610-114 4-30-11 Federal Tax and Capital

More information

Your model to successful individual retirement investment plans

Your model to successful individual retirement investment plans Your model to successful individual retirement investment plans Tim Noonan Managing Director, Capital Markets Insights Russell Investments WWW.RISYMPOSIUM.COM Presented by: Important Information Please

More information

Our perspective on universal life insurance. Protect and maximize your legacy. Client Guide. Universal Life Insurance

Our perspective on universal life insurance. Protect and maximize your legacy. Client Guide. Universal Life Insurance Universal Life Insurance Our perspective on universal life insurance Protect and maximize your legacy The Lincoln National Life Insurance Company Lincoln Life & Annuity Company of New York Not a deposit

More information

Healthcare costs in retirement Preparing today to protect your wealth tomorrow

Healthcare costs in retirement Preparing today to protect your wealth tomorrow Healthcare costs in retirement Preparing today to protect your wealth tomorrow Preparing for healthcare costs to protect your retirement lifestyle Merrill Lynch Wealth Management makes available products

More information

Those survey respondents

Those survey respondents Life & Health Insurance Advisor MRCT Benefits Plus is a comprehensive employee benefits, wellness and Human Resources consulting firm offering a variety of financial services to businesses and individuals

More information

Should I Buy an Income Annuity?

Should I Buy an Income Annuity? Prepared For: Fred & Wilma FLINT Prepared By: Don Maycock The purchase of any financial product involves a trade off. For example when saving for retirement, you are often faced with making a trade off

More information

Strategies for Turning Retirement Savings Into Retirement Income

Strategies for Turning Retirement Savings Into Retirement Income Private Wealth Management Products & Services Strategies for Turning Retirement Savings Into Retirement Income How to move from accumulating assets to utilizing them Retirement Income Planning is more

More information

PERSONAL WEALTH DEVELOPMENT QUESTIONNAIRE

PERSONAL WEALTH DEVELOPMENT QUESTIONNAIRE PERSONAL WEALTH DEVELOPMENT QUESTIONNAIRE Canby Financial Advisors, LLC 161 Worcester Road, Suite 408 Framingham, MA 01701 Phone 508-598-1082 Fax 508-598-1087 www.canbyfinancial.com Securities and some

More information

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities...

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities... An Insider s Guide to Annuities Whatever your picture of retirement, the best way to get there and enjoy it once you ve arrived is with a focused, thoughtful plan. Introduction 2 What is an Annuity?...

More information

SIMPLE IRA. Savings Incentive Match Plan for Employees

SIMPLE IRA. Savings Incentive Match Plan for Employees SIMPLE IRA Savings Incentive Match Plan for Employees Introducing the SIMPLE IRA Plan A comfortable retirement is an important financial goal for many American workers. Some financial professionals estimate

More information

An Easy and Low-Cost Retirement Plan For Your Small Business

An Easy and Low-Cost Retirement Plan For Your Small Business SEP-IRA SEP-IRAs can provide a substantial source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their eligible employees. An Easy and Low-Cost

More information

Immediate Annuities. Reno J. Frazzitta Investment Advisor Representative 877-909-7233 www.thesmartmoneyguy.com

Immediate Annuities. Reno J. Frazzitta Investment Advisor Representative 877-909-7233 www.thesmartmoneyguy.com Reno J. Frazzitta Investment Advisor Representative 877-909-7233 www.thesmartmoneyguy.com Immediate Annuities Page 1 of 7, see disclaimer on final page Immediate Annuities What is an immediate annuity?

More information

A solution offering much more than life insurance.

A solution offering much more than life insurance. AdvanceSource accelerated benefit A solution offering much more than life insurance. The purpose of this communication is the solicitation of insurance. Contact will 291251-D be made by an insurance agent,

More information

Annuity Owner Mistakes

Annuity Owner Mistakes Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands Provided to you by: William E. Watson III, RFC Registered Financial Consultant Annuity Owner Mistakes Written by Javelin Marketing, Inc.

More information

Planning for health care in retirement

Planning for health care in retirement FOR INVESTORS Planning for health care in retirement A guide to covering your medical expenses 1 Not FDIC Insured May Lose Value No Bank Guarantee You can stay on top of health care expenses The confidence

More information

Filling the Retirement Income Gap

Filling the Retirement Income Gap Filling the Retirement Income Gap A prospectus for the Fund containing more complete information may be obtained from your authorized dealer or from Goldman, Sachs & Co. by calling 800-526-7384. Please

More information

Leaving your employer? Options for your retirement plan

Leaving your employer? Options for your retirement plan Leaving your employer? Options for your retirement plan Contents Evaluating your options 1 The benefits of tax-deferred investing 4 Flexibility offered by an IRA rollover 6 How to get started 9 Evaluating

More information

Creating lifetime income with Immediate Fixed Income Annuities

Creating lifetime income with Immediate Fixed Income Annuities Creating lifetime income with Immediate Fixed Income Annuities Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments

More information

Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets

Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Provided to you by: H. Howard Rigg CFS,CRPS,RFC,CASL Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Written

More information

Retirement Extra using Life Insurance

Retirement Extra using Life Insurance Retirement Extra using Life Insurance Producer Guide Retirement Extra using Life Insurance is, first and foremost, a concept, it is not a product or contract. If this concept material will be used to promote

More information

The individual. A Resource for Your Retirement

The individual. A Resource for Your Retirement Retirement today requires more planning than for previous generations. Americans are living longer many will live 20 to 30 years or more in retirement. Finding a way to make savings last over such a long

More information

Financial Planning Basics Financial Planning Fundamentals

Financial Planning Basics Financial Planning Fundamentals Financial Planning Basics Financial Planning Fundamentals An Overview of the Financial Planning Process The Ground to Cover Setting goals Budgeting Emergency fund Insurance Using credit Investing Tax planning

More information

5 STEPS TO TAKE CONTROL OF YOUR FINANCIAL SECURITY

5 STEPS TO TAKE CONTROL OF YOUR FINANCIAL SECURITY 5 STEPS TO TAKE CONTROL OF YOUR FINANCIAL SECURITY What would it take for you to feel financially secure? A more stable job? Being debt free? Having millions in the bank? No matter how it s defined, we

More information

Should I Buy an Income Annuity?

Should I Buy an Income Annuity? The purchase of any financial product involves a trade off. For example when saving for retirement, you are often faced with making a trade off between how much you want to protect your investments from

More information

Should I Buy an Income Annuity?

Should I Buy an Income Annuity? Prepared For: Valued Client Prepared By: CPS The purchase of any financial product involves a trade off. For example when saving for retirement, you are often faced with making a trade off between how

More information

Retirement Transition Services

Retirement Transition Services April 2015 Retirement Transition Services Chris Herman Senior Vice President, Workplace Investing Reasons Why People Rollover % Extremely/Very Impactful Consolidate in one place 66% Get access to more

More information

Life events that may derail a financial plan

Life events that may derail a financial plan Life events that may derail a financial plan The BMO Institute provides insights and strategies around wealth planning and financial decisions to better prepare you for a confident financial future. bmoharris.com

More information

The Facts of Life and Annuities

The Facts of Life and Annuities 2 The Facts of Life and Annuities Introduction... 4 7 Key Facts... 5 Life Insurance Ownership Is Widespread, but Inadequate... 6 Most Individual Life Insurance Policies Are Permanent... 8 Why Life Insurance

More information

G. Schroeder, CIMA Vice President Financial Advisor 601 Union Street, Suite 5200 Seattle, WA 98101 1-206-628-4855

G. Schroeder, CIMA Vice President Financial Advisor 601 Union Street, Suite 5200 Seattle, WA 98101 1-206-628-4855 G. Schroeder, CIMA Vice President Financial Advisor 601 Union Street, Suite 5200 Seattle, WA 98101 1-206-628-4855 G. Schroeder, Financial Advisor at Morgan Stanley As the financial world becomes more complex

More information

Your Guide to Retirement Income Planning

Your Guide to Retirement Income Planning Your Guide to Retirement Income Planning Your Guide to Retirement Income Planning 3 Your retirement income plan How to create secure income in retirement Your retirement will be as unique as you are. Travel,

More information

Learning Objectives 26. What Is Insurance? 3. Coverage Concepts 8. Types of Insurance 10. Types of Insurers 11. Introduction 26

Learning Objectives 26. What Is Insurance? 3. Coverage Concepts 8. Types of Insurance 10. Types of Insurers 11. Introduction 26 Contents u n i t 1 Introduction to Insurance 1 Introduction 2 Learning Objectives 2 What Is Insurance? 3 Risk 4 Coverage Concepts 8 Types of Insurance 10 Types of Insurers 11 Domicile and Authorization

More information

Creating future lifetime income with Deferred Income Annuities

Creating future lifetime income with Deferred Income Annuities Creating future lifetime income with Deferred Income Annuities Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments

More information

Paying for Health Care in Retirement

Paying for Health Care in Retirement Paying for Health Care in Retirement One of the complications in retirement planning is the need to make predictions what will our future living expenses be, and what about inflation rates? A big mistake

More information

What Can a Variable Annuity Do for Your IRA? Enhancing Your Individual Retirement Account

What Can a Variable Annuity Do for Your IRA? Enhancing Your Individual Retirement Account B What Can a Variable Annuity Do for Your IRA? Enhancing Your Individual Retirement Account Your Individual Retirement Account (IRA) is an important component of your retirement planning strategy and one

More information

Should Americans Be Insuring Their Retirement Income?

Should Americans Be Insuring Their Retirement Income? A CASE STUDY Should Americans Be Insuring Their Retirement Income? 1/ 8 0230382-00004-00 Ed. 07/2013 With continuing volatility in the financial markets and interest rates hovering at unprecedented lows,

More information

Are Second to Die Life Insurance Policies Worthwhile Investments?

Are Second to Die Life Insurance Policies Worthwhile Investments? ? Ronald L Fishbein Managing Director Wealth Advisor Senior Investment Management Consultant 702 King Farm Blvd. Ste. 500 Rockville, MD 20850 Ronald.L.Fishbein@morganstanley.com Background A second to

More information

advisory & Brokerage consulting services Make Your Retirement Savings Last a Lifetime

advisory & Brokerage consulting services Make Your Retirement Savings Last a Lifetime advisory & Brokerage consulting services Make Your Retirement Savings Last a Lifetime Member FINRA/SIPC ADVISORY & Brokerage consulting SERVICES Three Things to Consider When Planning for Retirement Today,

More information

A guide to your retirement income options with TIAA-CREF

A guide to your retirement income options with TIAA-CREF A guide to your retirement income options with TIAA-CREF Helping you make important decisions about your retirement How will I know when the time is right to retire? Making the decision to retire is no

More information

Retirement Questions Government Employees Should be Asking

Retirement Questions Government Employees Should be Asking Retirement Questions Government Employees Should be Asking As financial professionals who specialize in helping government employees transition from work to retirement, we understand that you may have

More information

Lifetime Retirement Planning with Wells Fargo Advisors Income guarantees for your retirement savings

Lifetime Retirement Planning with Wells Fargo Advisors Income guarantees for your retirement savings Lifetime Retirement Planning with Wells Fargo Advisors Income guarantees for your retirement savings Get there. Your way. Lifetime Retirement Planning with Wells Fargo Advisors 1 Guaranteed income for

More information

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE. Tax-advantaged IRAs. Invest in your retirement savings while reducing taxes

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE. Tax-advantaged IRAs. Invest in your retirement savings while reducing taxes NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE Taxadvantaged IRAs Invest in your retirement savings while reducing taxes Find the answers inside Why invest for retirement? p. 1 Discover three good reasons

More information

Planning your retirement income strategy

Planning your retirement income strategy A Fact Finder for Individuals Planning your retirement income strategy Retire confidently insure invest retire Personal information To create a sound income strategy designed to meet your retirement income

More information

Traditional and Roth IRAs. Invest for retirement with tax-advantaged accounts

Traditional and Roth IRAs. Invest for retirement with tax-advantaged accounts Traditional and Roth IRAs Invest for retirement with tax-advantaged accounts Your Retirement It is your ultimate reward for a lifetime of hard work and dedication. It is a time when you should have the

More information

Completed by. Date. Personal Viewpoint

Completed by. Date. Personal Viewpoint Completed by Date Personal Viewpoint An overview of your financial development, income protection, life insurance coverage, and estate organization from your point of view. your personal views. A- Essential

More information

Learn how to prepare for retirement. Investor education

Learn how to prepare for retirement. Investor education Learn how to prepare for retirement Investor education Soon you ll embark on one of the biggest changes in your life......the transition to retirement. When you retire, you ll be spending your nest egg

More information

Your Health Savings Account Reference Guide. Your Guide to Understanding a Health Savings Account

Your Health Savings Account Reference Guide. Your Guide to Understanding a Health Savings Account Your Health Savings Account Reference Guide Your Guide to Understanding a Health Savings Account Table of Contents The Fidelity HSA...1 Opening and Contributing to Your Fidelity HSA...3 Using Your Fidelity

More information

A compelling unbeatable package of guarantees and flexibility. Life insurance protection with optionality SM. CONSUMer Guide

A compelling unbeatable package of guarantees and flexibility. Life insurance protection with optionality SM. CONSUMer Guide CONSUMer Guide AG Secure Lifetime GUL with Lifestyle Income Solution SM Flexible premium, adjustable death benefit universal life insurance with secondary guarantee provisions Life insurance protection

More information

Preparing Your Savings for Retirement

Preparing Your Savings for Retirement Preparing Your Savings for Retirement The Retirement Income Series: Part 1 Preparing Your Savings for Retirement So, you re starting to think about retirement Your questions at this time of your life.

More information

Solutions for the New Retirement Reality

Solutions for the New Retirement Reality Solutions for the New Retirement Reality Fernando Suarez CFP, CLU, ChFC Managing Director - Wealth Management Advisor May 8 th, 2012 29-5184-02 (10-11) Disclosure The Northwestern Mutual Life Insurance

More information

Ensuring Your Path. Solutions Protecting Life s Next Steps. The Guardian Life Insurance Company of America A LONG TERM CARE GUIDE FOR CONSUMERS

Ensuring Your Path. Solutions Protecting Life s Next Steps. The Guardian Life Insurance Company of America A LONG TERM CARE GUIDE FOR CONSUMERS Ensuring Your Path Solutions Protecting Life s Next Steps Pub5889ICC (5/13) ICC13 LTCR 5889 2013 1438 The Guardian Life Insurance Company of America A LONG TERM CARE GUIDE FOR CONSUMERS The good news is

More information

Freedom to enjoy tax-free retirement income

Freedom to enjoy tax-free retirement income Tax-efficient retirement income Using life insurance Freedom to enjoy tax-free retirement income 291194 F (9/13) The Protect. Grow. Give. philosophy With life and disability income insurance, you have

More information

Guaranteed income for life. In any market.

Guaranteed income for life. In any market. Guaranteed income for life. In any market. Schwab Retirement Income Variable Annuity with optional Guaranteed Lifetime Withdrawal Benefit. A variable annuity from Charles Schwab, issued by Pacific Life

More information

An IRA can put you in control of your retirement, whether you

An IRA can put you in control of your retirement, whether you IRAs: Powering Your Retirement One of the most effective ways to build and manage funds to help you meet your financial goals is through an Individual Retirement Account (IRA). An IRA can put you in control

More information

Understanding annuities

Understanding annuities ab Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Protecting your retirement income security from life s uncertainties. The retirement landscape

More information

Retirement. Income. your way

Retirement. Income. your way Retirement. Income. your way YOUR GUIDE TO SUNFLEX RETIREMENT INCOME Life s brighter under the sun Table of contents Introduction... 3 The five retirement risks... 4 Money for Life... 5 Product Overview

More information

Your Number. Every person has one. ANNUITIES. Your future. Made easier. SM

Your Number. Every person has one. ANNUITIES. Your future. Made easier. SM Your Number. Every person has one. Not FDIC/NCUA Insured Not A Deposit Of A Bank Not Bank Guaranteed May Lose Value Not Insured By Any Federal Government Agency ANNUITIES Your future. Made easier. SM Know

More information

Traditional and Roth IRAs. Invest for retirement with tax-advantaged accounts

Traditional and Roth IRAs. Invest for retirement with tax-advantaged accounts Traditional and s Invest for retirement with tax-advantaged accounts Your Retirement It is your ultimate reward for a lifetime of hard work and dedication. It is a time when you should have the financial

More information

Health Savings Accounts: Innovative Health Care Financing

Health Savings Accounts: Innovative Health Care Financing Health Savings Accounts: Innovative Health Care Financing Would you be interested in a health insurance program that puts you in control of your own health care dollars, while protecting you and your family

More information

PAYING YOURSELF BACK IN RETIREMENT A Guide to Lifetime Income Planning

PAYING YOURSELF BACK IN RETIREMENT A Guide to Lifetime Income Planning PAYING YOURSELF BACK IN RETIREMENT A Guide to Lifetime Income Planning Lifetime Income Planning in a New World of Investing Retirement. It s the ultimate good news/bad news scenario. First, the good news:

More information

Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets

Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Six Strategies to Help Retirees Reduce Taxes and Preserve Their Assets Provided to you by: William E. Watson III, RFC Registered Financial Consultant Six Strategies to Help Retirees Reduce Taxes and Preserve

More information

Financial Planning Basics

Financial Planning Basics Financial Planning Basics Financial Planning Basics 10 Critical Aspects to your Financial Wellness An Overview of the Financial Planning Process Presented by: James Lindner, CFP, CLU, ChFC Retirement Strategies,

More information

Basics of IRAs ING FINANCIAL SOLUTIONS. Your future. Made easier. SM

Basics of IRAs ING FINANCIAL SOLUTIONS. Your future. Made easier. SM Basics of IRAs t FDIC/NCUA Insured t A Deposit Of A Bank t Bank Guaranteed May Lose Value t Insured By Any Federal Government Agency ING FINANCIAL SOLUTIONS Your future. Made easier. SM Traditional IRA

More information