Retirement Income: Strategies and Options

Size: px
Start display at page:

Download "Retirement Income: Strategies and Options"

Transcription

1 Retirement Income: Strategies and Options Creating an appropriate retirement income strategy can be critical to a comfortable retirement. Two basic questions that have to be answered when creating a strategy are: How much can I spend? and How do I allocate my resources so that I will not run out of money? Below are a few strategies that you may wish to consider when answering these questions. HOW MUCH CAN I SPEND? To determine how much you will be able to spend, you may want to use any one or a combination of the options available, such as: Steady Withdrawal Rate Systematic Withdrawals Endowment Spending Steady Withdrawal Rate This strategy is implemented by calculating an initial withdrawal rate, generally between 4-5% of your portfolio s initial value. This withdrawal rate would then be maintained throughout your retirement, often with an increase for Cost of Living Allowances (COLA) or the Consumer Price Index (CPI). An example of how these distributions might look is illustrated below. Year Initial Account Balance Investment Return (40% stock / 60% bonds) 1 Withdrawal Ending Account Balance 1991 $1,000, % $40, $1,188, $1,188, % $41, $1,241, $1,241, % $42, $1,321, $1,321, % $44, $1,255, $1,255, % $45, $1,539, $1,539, % $46, $1,665, $1,665, % $48, $1,932, $1,932, % $49, $2,192, $2,192, % $49, $2,315, $2,315, % $51, $2,354, $2,354, % $52, $2,304, $2,304, % $54, $2,192, $2,192, % $55, $2,453, $2,453, % $56, $2,573, $2,573, % $57, $2,618, $2,618, % $59, $2,788, $2,788, % $61, $2,908, $2,908, % $63, $2,498, $2,498, % $65, $2,805, $2,805, % $65, $3,031, This illustration assumes that annual withdrawals of 4% are distributed at year-end, adjusted for the previous year s CPI figure. The annual withdrawals are based on the previous year s ending account balance. This example uses 40% Russell 1000 Index and 60% BC Aggregate Bond Index calendar year returns from , which are rebalanced annually. Results would have been different with a different asset allocation or time frame. This example is for illustrative purposes only. Performance is historical and is not representative of future results. Individuals cannot invest directly in an index.

2 This strategy should generate income and, depending on your asset allocation and portfolio performance, may provide growth to help keep pace with inflation while still providing full flexibility and access to your savings. It may, however, require hands-on attention over time, and the amount and longevity of income cannot be assured. Systematic Withdrawals The systematic withdrawal strategy assumes that you will be able to live on a set percentage of your pre-retirement income. A popular percentage used is 80% of pre-retirement income. Depending on how you choose to implement the strategy, you can provide for COLA or CPI adjustments. A sample of how the systematic withdrawals strategy might look for a person earning $62,500 in pre-retirement income is illustrated below. Year Initial Account Balance Investment Return (40% stock / 60% bonds) Income Needs Social Security Payments Withdrawal Need after Social Security Ending Account Balance 1991 $1,000, % $50,000 $16,822 $33,178 $1,194, $1,194, % $52,100 $17,326 $34,774 $1,255, $1,255, % $53,663 $17,846 $35,817 $1,344, $1,344, % $55,273 $18,081 $37,192 $1,285, $1,285, % $56,710 $18,623 $38,087 $1,584, $1,584, % $58,298 $19,182 $39,116 $1,722, $1,722, % $60,047 $19,757 $40,290 $2,007, $2,007, % $61,428 $20,350 $41,078 $2,287, $2,287, % $62,411 $20,961 $41,450 $2,427, $2,427, % $63,784 $21,590 $42,194 $2,479, $2,479, % $65,952 $22,238 $43,715 $2,438, $2,438, % $67,799 $22,905 $44,894 $2,332, $2,332, % $68,884 $23,592 $45,292 $2,623, $2,623, % $70,468 $24,300 $46,168 $2,765, $2,765, % $72,371 $25,029 $47,342 $2,829, $2,829, % $74,831 $25,780 $49,052 $3,028, $3,028, % $77,226 $26,553 $50,673 $3,175, $3,175, % $79,388 $27,350 $52,039 $2,745, $2,745, % $82,405 $28,171 $54,235 $3,100, $3,100, % $82,076 $29,016 $53,059 $3,369,458 This illustration assumes that annual withdrawals of $33,178 are distributed at year-end, adjusted for the previous year s CPI figure. The annual withdrawals are based on the previous year s ending account balance. This example uses 40% Russell 1000 Index and 60% BC Aggregate Bond Index calendar year returns from , which are rebalanced annually. Results would have been different with a different asset allocation or time frame. Social Security payments are estimated using a Social Security Benefits calculator from KJE Computer Solutions, LLC. These payments were determined using a 65 year old one year out from retirement with annual earned income of $62,500. This example is for illustrative purposes only. Performance is historical and is not representative of future results. Individuals cannot invest directly in an index. In general, with this strategy, you will likely be able to maintain a similar lifestyle to that of your pre-retirement lifestyle. However, because there is no adjustment for down years, there is a greater risk that you will deplete your assets. In addition, inflation may outpace your withdrawals, greatly reducing your purchasing power. Although this is typically a simple strategy to calculate and follow, it may be simple and may not take enough variables into account when estimating the sustainability of your retirement assets. 2

3 Endowment Spending One of the problems with using straight withdrawal methods, either through a steady withdrawal or through systematic withdrawals, is that they don t take account value fluctuations into consideration. This means that you could potentially draw down your assets too quickly, or you could potentially be too frugal with your distributions. Another strategy, referred to as endowment spending, is becoming popular because it takes both a spending rate and your annual account value into consideration when calculating the amount you are able to withdraw annually. As the name implies, this method uses a formula similar to that of an endowment fund and blends a spending percentage with a portfolio percentage. The spending rate is the percent of money that you withdraw from your retirement savings to cover expenses and fund your retirement. The smoothing rule component is the control that takes account value fluctuations into consideration. Both aspects of the calculation work together. In your first year you would calculate the percentage you want to spend from your portfolio and then limit your spending to that amount. Your initial spending percentage would be recalculated each subsequent year to incorporate the smoothing rule, thereby making appropriate adjustments for your portfolio s performance and COLA or CPI adjustments. An easy way to calculate your initial spending percentage is to project your retirement spending need for your first year of retirement and divide that by your entire portfolio value. For example, if your portfolio is worth $1,000,000 and your projected spending needs are $50,000, your initial spending rate would be 5%. To implement this strategy, you would first have to determine what smoothing rule you will use. The smoothing rule is designed to adjust each year s spending by just enough to keep your portfolio sustainable, but not too much that it will greatly alter your lifestyle. To make this strategy work for you, you will have to determine how much fluctuation you are comfortable with in your annual spending allowance. A common smoothing rule is 80/20. This means that 80% of your spending allocation is constant (based on your previous year s spending amount) and 20% of your spending allocation will be subject to fluctuation based on your portfolio s performance and COLA or CPI adjustments. For example, assuming you decided on an 80/20 smoothing rule, you would calculate your current year s spending by taking 80% of your prior year s spending and adding to that 20% of your portfolio s current value multiplied by your spending rate. For example, if your portfolio is worth $950,000, you have a 5% spending rate, and your spending amount last year was $50,000, your present year calculation might look like this: Portfolio value: $950,000 Prior-year spending: $50,000 Spending rate: 5% Portfolio value adjustment: $950,000 x 20% = $190,000 x 5% = $9,500 80% of prior-year spending $ 40,000 20% portfolio value adjustment +$ 9,500 Current year spending amount $ 49,500 The appeal of this approach is that it will ebb and flow with the value of your portfolio, making it more likely that your assets will last through retirement. Adjustments that are made due to fluctuations in your portfolio s value are based on a smoothing rule so any adjustments to your spending, while varying from year-to-year, would be somewhat gradual helping to minimize the changes to your lifestyle. HOW DO I ALLOCATE MY RESOURCES? Allocating your resources so that you can meet your spending needs and sustain your spending throughout your retirement is the next step in creating your income strategy. To help you maintain a regular flow of money for short and long-term spending needs, retirees may want to consider a cash flow reserve strategy supported by a timesegmented approach to investing your retirement income assets. 3

4 Cash Flow Reserve This strategy is set up to give you paychecks similar to when you were working. When implementing this strategy, you break your portfolio into multiple separate accounts: a checking account, a cash flow reserve account, and investment accounts. You would keep about an average of two years of cash reserves in your cash flow reserve account where a paycheck would be distributed each month (or at intervals that work for you) into your checking account. The remaining assets would be retained in an investment portfolio with assets being liquidated at opportune times to keep the cash flow reserve at roughly two years. For example: Moved at set intervals for paycheck Assets moved when appropriate to keep Cash Flow Reserve Account at 2-years worth of income Checking Account Cash Flow Reserve Account Investment Account This is where your paychecks are deposited. You provide for your immediate spending needs from this account. Two years worth of income is maintained in this account. At set intervals a paycheck is distributed to your checking account. This account is invested in short-term fixed income investments. Your remaining portfolio is invested with longer term assets as is appropriate for you. These assets that would be invested in separate accounts or investments, as outlined below. This strategy can help you to keep the rhythm of receiving a paycheck and budgeting accordingly, and can help prevent being forced to sell your retirement assets at inopportune times. The Bucket Approach This approach is designed to segment your assets into time-segmented buckets based on when you may need them. These buckets can typically be arranged in 5 to 10 year time spans. You would then withdraw a sustainable rate, derived from the spending strategy you choose to implement, from a specific bucket throughout your retirement. That withdrawal amount is re-calculated periodically based on your needs and the applicable bucket s performance. As time moves on, your buckets get drained and you move on to the next one in line. For example, if you were planning for 20 years or more of spending, your different buckets might look like this: Bucket I: Years 1-5 Money Market Funds Savings Account Short-term bonds CDs Bucket II: Years 6-10 Short-term bonds Intermediate bonds Dividend paying stocks Bucket III: Years Intermediate bonds High yield bonds Dividend paying stocks Bucket IV: Years 16+ Intermediate bonds High yield bonds Dividend paying stocks Growth Stocks Alternative Investments* As assets in each bucket get drained, you would replenish it from the bucket immediately after it, moving the most aggressive assets into the most conservative assets over time. 4

5 With the bucket approach you are likely to make adjustments to your spending in the short-term without affecting your savings for the long-term. Although your spending amount will generally fluctuate throughout retirement, since each bucket is invested based on a set time horizon, you can better allocate your assets according to your projected needs at a specific point in retirement, and liquidate securities at opportune times. Additional Considerations When creating your retirement income plan, there are a few additional considerations you may wish to take into account. For example, you might not need your buckets to cover all of your retirement expenses, as most individuals should have Social Security benefits and annuity investments as part of their overall retirement income plan. In addition, as with any stage of life, it is wise to plan for the unexpected. Having an emergency fund available can help you take any surprises in stride. Social Security Most individuals who have been employed in the U.S. during their career, or who are married to an individual who has been employed in the U.S. during their career, will receive some form of Social Security benefits. Though a number of factors that go into determining when an individual will choose to start taking their Social Security benefits (generally date of birth, marital status, and employment status), most individuals will begin receiving these benefits between the ages of 62 and 67. Social Security benefits should be factored into your retirement income plan. Because this is a steady, predictable stream of income, your Social Security checks would generally be deposited directly into your checking account while your remaining income needs are provided for through your portfolio, bucket, investments. For more information on Social Security and what benefits for which you may be eligible, ask your Oppenheimer Financial Advisor for a copy of An Overview of Social Security for Retirees. To estimate what your Social Security benefits may be, you can access the Social Security Administration s Benefits Planners online at As an alternative, you can look at your individual Social Security Statement. This is a concise, easy-to-read personal record of the earnings on which you have paid Social Security taxes during your working years and a summary of the estimated benefits you (and your family) may receive as a result of those earnings. This statement is generally available online for workers, and former workers, age 25 and older. You can review this statement annually. Annuities In its most basic form, an annuity is an insurance contract that provides an income stream in return for an initial payment. For many retirees, annuities will be an integral part of their retirement plan. As with Social Security benefits, annuity income will generally be a steady, predictable stream of income which you could deposit directly into your checking account. When creating your retirement income plan, you should speak with your Oppenheimer Financial Advisor who will work with you and the experts in our Annuity Department to help you determine what the best retirement income model is for you. Emergencies Emergencies, they can t be avoided, no matter how thoroughly you plan. However, you can plan for the unexpected! It is almost always a good idea to work a little cushion into your retirement income plan. This way, if you have a sudden hospital visit, your car breaks down, you decide that you need that emergency trip to visit the grandkids, or any other unplanned for event, you can still keep your retirement income plan intact. A few suggestions on how to plan for the unexpected include: Allow for a specific emergency bucket in your retirement income plan Allocate earnings that exceed expectations to an emergency fund In more drastic cases, re-create your retirement income plan based on your new circumstances 5

6 However you decide to prepare for your emergencies, be sure to discuss your plan with your Oppenheimer Financial Advisor to make sure that the appropriate allocations are made. How to Implement Your Strategy The strategies outlined here are just a few of the options you may want to consider when creating your retirement income plan. Your Oppenheimer Financial Advisor can help you determine which strategy, or combination of strategies, may be right for your specific situation. In addition to helping you create an appropriate strategy, your Oppenheimer Financial Advisor can also help you determine how to invest those assets to help make your strategy successful. To help in projecting the likelihood of outliving your retirement assets, Oppenheimer & Co. Inc. has financial planning tools available. Contact your Oppenheimer Financial Advisor today for more information on these tools and retirement income! The Russell 1000 index measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000 Index and includes approximately 1000 of the largest securities based on a combination of their market cap and current index membership. The Russell 1000 represents approximately 92% of the U.S. market. The Russell 1000 Index is constructed to provide a comprehensive and unbiased barometer for the large-cap segment and is completely reconstituted annually to ensure new and growing equities are reflected. The BC Aggregate Bond Index is an index comprised of approximately 6,000 publicly traded bonds including U.S. government, mortgage-backed, corporate and Yankee bonds with an average maturity of approximately 10 years. The index is weighted by the market value of the bonds included in the index. This index represents asset types that are subject to risk, including loss of principal. * Alternative Investments, such as Hedge Funds and Fund of Funds are made available only to qualified investors and involve varying degrees of risk, including the possible loss of principal invested. Oppenheimer & Co. Inc. 85 Broad Street New York, NY OPCO Oppenheimer & Co. Inc. Transacts Business on All Principal Exchanges and Member SIPC. All Rights Reserved. The information contained herein is general in nature, has been obtained from various sources believed to be reliable and is subject to changes in the Internal Revenue Code, as well as other areas of law. Oppenheimer & Co. Inc. does not provide legal or tax advice. Please contact your legal or tax advisor for specific advice regarding your circumstances. No part of this brochure may be reproduced in any manner without the written permission of Oppenheimer & Co. Inc. RS051513RM1

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

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

>Most investors spend the majority of their time thinking and planning

>Most investors spend the majority of their time thinking and planning Generating Retirement Income using a Systematic Withdrawal Plan SPECIAL REPORT >Most investors spend the majority of their time thinking and planning around how best to save for retirement. But once you

More information

FINANCIAL PROFILE. 3601 West Washington Avenue Suite 2 Yakima, Wa 98908 509-966-4811 www.reevesfinancial.net

FINANCIAL PROFILE. 3601 West Washington Avenue Suite 2 Yakima, Wa 98908 509-966-4811 www.reevesfinancial.net H E L P I N G Y O U A C H I E V E F I N A N C I A L G O A L S FINANCIAL PROFILE 3601 West Washington Avenue Suite 2 Yakima, Wa 98908 509-966-4811 www.reevesfinancial.net INVEST Financial Corporation is

More information

SEC s Third Annual Senior Summit. Managing Your Income in Retirement

SEC s Third Annual Senior Summit. Managing Your Income in Retirement SEC s Third Annual Senior Summit Managing Your Income in Retirement Robert Brokamp Advisor, The Motley Fool s Rule Your Retirement newsletter RobertB@Fool.com Step 1: Withdraw the Right Amount Q: If you

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

Investment Policy Questionnaire

Investment Policy Questionnaire Investment Policy Questionnaire Name: Date: Ferguson Investment Services, PLLC Investment Policy Questionnaire Introduction: The information you provide on this questionnaire will remain confidential.

More information

Mutual Fund Advisory Program

Mutual Fund Advisory Program Mutual Fund Advisory Program GIVING YOU ACCESS TO A WIDE RANGE OF PROFESSIONALLY MANAGED MUTUAL FUND PORTFOLIOS THE MUTUAL FUND ADVISORY PROGRAM OFFERS YOU: > Access to actively managed investment solutions

More information

Workplace Education Series. Building a Portfolio for Any Weather

Workplace Education Series. Building a Portfolio for Any Weather Building a Portfolio for Any Weather The Retirement Savings Series Part 1: Getting on the Right Path with Your Workplace Savings Understand the many advantages of saving at the workplace Find money in

More information

Overview of Your TIAA-CREF Investment Solutions SM Accounts

Overview of Your TIAA-CREF Investment Solutions SM Accounts Overview of Your TIAA-CREF Investment Solutions SM Accounts TIAA-CREF Investment Solutions SM now offers you nine mutual funds in addition to our fixed and variable annuity accounts. TIAA-CREF Investment

More information

Retirement Planning Workshop

Retirement Planning Workshop Retirement Planning Workshop Agenda What is Retirement Planning? Why Plan for Retirement? 5 Key Risks to secure income Goal Setting Retirement Income Considerations Asset Accumulation Considerations Tom

More information

The essentials of investing for retirement.

The essentials of investing for retirement. The essentials of investing for retirement. Fidelity has been helping people invest for retirement for more than 65 years. Some investors use our actively managed and index mutual funds. Some use our powerful

More information

TAKE THE W HEE L. Retirement Savings Plan

TAKE THE W HEE L. Retirement Savings Plan TAKE THE W HEE L Retirement Savings Plan PG 1 The road to retirement is calling your name Retirement. For many people, it s a dream destination. But getting there can be a challenge. Financial experts

More information

Glossary of Investment Terms

Glossary of Investment Terms online report consulting group Glossary of Investment Terms glossary of terms actively managed investment Relies on the expertise of a portfolio manager to choose the investment s holdings in an attempt

More information

ThoughtCapital. Investment Strength and Flexibility

ThoughtCapital. Investment Strength and Flexibility Investment Strength and Flexibility Principal Trust SM Target Date Funds The Principal Trust SM Target Date Funds (Target Date Funds) are designed to capitalize on the growing popularity of Do-It-For-Me

More information

Roth IRAs and Conversions

Roth IRAs and Conversions Roth IRAs and Conversions When the law that created Roth IRAs was originally enacted there were two eligibility limits placed on them. The first affected an individual s ability to contribute to the Roth-

More information

CLI ENT ED U CATI O N. Retirement Income. Shape Your Own Reality

CLI ENT ED U CATI O N. Retirement Income. Shape Your Own Reality CLI ENT ED U CATI O N Retirement Income Shape Your Own Reality shape your own reality New Retirement Reality Realities for Today s Retirees 36 % say they need to work through retirement years 46 % say

More information

retirement income solutions *Advisor Design guide for Life s brighter under the sun What s inside Retirement income solutions advisor guide USE ONLY

retirement income solutions *Advisor Design guide for Life s brighter under the sun What s inside Retirement income solutions advisor guide USE ONLY Retirement income solutions advisor guide *Advisor USE ONLY Design guide for retirement income solutions What s inside Discussing retirement needs with clients Retirement income product comparison Creating

More information

Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor. October, 2008

Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor. October, 2008 Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor October, 2008 1 Market Ups and Downs Recent news is full of anxiety-causing developments: Credit crunch Bank

More information

Generate More Efficient Income and a Stronger Portfolio

Generate More Efficient Income and a Stronger Portfolio Generate More Efficient Income and a Stronger Portfolio All examples shown are hypothetical and for illustrative purposes only and do not represent the performance of an actual investment. Past performance

More information

Guarantee Your Income For Life

Guarantee Your Income For Life R ELIABLE FINANCIAL GROUP Guarantee Your Income For Life Secure Your Future By Planning Today Providing solutions that fit your ever changing needs Would You Like A Paycheck For Life? Put a well-designed

More information

strategic asset management discover financial independence Through Powerful Advice

strategic asset management discover financial independence Through Powerful Advice strategic asset management discover financial independence Through Powerful Advice envision your financial future Set Your Expectations High Whatever your destination, a solid investment program can help

More information

Voya Retirement Insurance and Annuity Company

Voya Retirement Insurance and Annuity Company P E R F O R M A N C E U P D A T E Voya Retirement Insurance and Annuity Company SEPTA DEFERRED COMPENSATION Separate Account D, Group Annuity Contract Average Annual Total Returns as of: 01/31/2016 (shown

More information

LIFETIME WEALTH PORTFOLIOS LIFETIME WEALTH PORTFOLIOS. wealth management solutions LIFETIME WEALTH PORTFOLIOS. wealth management solutions

LIFETIME WEALTH PORTFOLIOS LIFETIME WEALTH PORTFOLIOS. wealth management solutions LIFETIME WEALTH PORTFOLIOS. wealth management solutions LIFETIME WEALTH PORTFOLIOS LIFETIME WEALTH PORTFOLIOS wealth management solutions LIFETIME WEALTH PORTFOLIOS wealth management solutions 1 WEALTH MANAGEMENT FOR LIFE Investing wisely for the future can

More information

Voya Retirement Insurance and Annuity Company

Voya Retirement Insurance and Annuity Company P E R F O R M A N C E U P D A T E Voya Retirement Insurance and Annuity Company INDEPENDENT S D 197 403B PLAN Variable Annuity Account C, Non-Standardized Returns Average Annual Total Returns as of: 09/30/2015

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

PIVOTAL SOLUTIONSII. Investor Profiler Questionnaire

PIVOTAL SOLUTIONSII. Investor Profiler Questionnaire PIVOTAL SOLUTIONS PIVOTAL SOLUTIONSII Investor Profiler Questionnaire Which investment mix is right for me? Choosing the right selection of investments is an important task. Your financial goals and objectives,

More information

Investment Return Assumptions for Public Funds

Investment Return Assumptions for Public Funds Callan InvesTmenTs InsTITuTe ReseaRCH June 2010 Investment Return Assumptions for Public Funds The Historical Record The return assumptions that public defined benefit plans use to calculate both future

More information

The IBM 401(k) Plus Plan. Invest today for what you hope to accomplish tomorrow

The IBM 401(k) Plus Plan. Invest today for what you hope to accomplish tomorrow The IBM 401(k) Plus Plan Invest today for what you hope to accomplish tomorrow The IBM 401(k) Plus Plan Dollar-for-dollar company match, automatic company contributions, broad range of investment options

More information

Define your goals. Understand your objectives.

Define your goals. Understand your objectives. Define your goals. Understand your objectives. As an investor, you are unique. Your financial goals, current financial situation, investment experience and attitude towards risk all help determine the

More information

Determining your investment mix

Determining your investment mix Determining your investment mix Ten minutes from now, you could know your investment mix. And if your goal is to choose investment options that you can be comfortable with, this is an important step. The

More information

Basic Investment Education

Basic Investment Education Disclaimer: The information provided below is for information purposes only - it is not investment advice. If you have any questions about your own personal financial situation, you should consult with

More information

All Canyon Resources Employees REMINDER ABOUT THE 4O1(K) PLAN AND SUMMARY OF RECENT CHANGES

All Canyon Resources Employees REMINDER ABOUT THE 4O1(K) PLAN AND SUMMARY OF RECENT CHANGES TO: RE: All Canyon Resources Employees REMINDER ABOUT THE 4O1(K) PLAN AND SUMMARY OF RECENT CHANGES WHAT IS THE 401(k) PLAN? The 401(k) plan is designed to help you save for your retirement. You decide

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

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

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

Target Date Funds. [CODE] [Expiration Date]

Target Date Funds. [CODE] [Expiration Date] Target Date Funds Investments and services offered through Morgan Stanley Smith Barney LLC, and accounts carried by Morgan Stanley & Co. Incorporated; members SIPC. 2009 Morgan Stanley Smith Barney [CODE]

More information

Investment options insights A look at Investment Choices for VUL III Variable Universal Life Insurance

Investment options insights A look at Investment Choices for VUL III Variable Universal Life Insurance An Educational Guide for Consumers Investment options insights A look at Investment Choices for VUL III Variable Universal Life Insurance Investment Strategies This brochure must be preceded or accompanied

More information

What you will learn today. Different categories of investments Choosing your investment mix Common investor pitfalls Determining your next steps

What you will learn today. Different categories of investments Choosing your investment mix Common investor pitfalls Determining your next steps Investing 101 What you will learn today Different categories of investments Choosing your investment mix Common investor pitfalls Determining your next steps 2 Asset Allocation One of Your Most Important

More information

Determining your investment mix.

Determining your investment mix. Determining your investment mix. Ten minutes from now, you could know your investment mix: And if your goal is to choose investment options that you can be comfortable with, this is an important step.

More information

Bond Mutual Funds. a guide to. A bond mutual fund is an investment company. that pools money from shareholders and invests

Bond Mutual Funds. a guide to. A bond mutual fund is an investment company. that pools money from shareholders and invests a guide to Bond Mutual Funds A bond mutual fund is an investment company that pools money from shareholders and invests primarily in a diversified portfolio of bonds. Table of Contents What Is a Bond?...

More information

SAVINGS GROWTH PLAN. Looking forward to new horizons. investment options

SAVINGS GROWTH PLAN. Looking forward to new horizons. investment options SAVINGS GROWTH PLAN SAVINGS GROWTH PLAN SAVINGS GROWTH PLAN Looking forward to new horizons. investment options 4 2020-2060 Portfolios BlackRock Table of Contents 6 Retirement Portfolio BlackRock 8 Short-Term

More information

AGE 12. ANNUITIES, Plain & Simple. Income is the Name of the Game!

AGE 12. ANNUITIES, Plain & Simple. Income is the Name of the Game! ANNUITIES, Plain & Simple This editorial will tell you why annuities are an important part of your plan for retirement. It will use simple language and terms, and go over practical reasons why annuities

More information

Timely Topics. The Benchmark Standard. May 30, 2013. Highlights. What Is a Benchmark, and Why Is It Important? LPL FINANCIAL RESEARCH

Timely Topics. The Benchmark Standard. May 30, 2013. Highlights. What Is a Benchmark, and Why Is It Important? LPL FINANCIAL RESEARCH LPL FINANCIAL RESEARCH Timely Topics May 30, 2013 The Benchmark Standard Highlights LPL Financial Research believes investors need to choose a benchmark that best reflects the investment style of their

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

your goals Investing to achieve

your goals Investing to achieve Investing to achieve your goals Whether it s for a comfortable retirement, a major purchase, or funding a child s education, or saving to leave a legacy, investing to achieve your goals and dreams takes

More information

CHOOSING YOUR INVESTMENTS

CHOOSING YOUR INVESTMENTS CHOOSING YOUR INVESTMENTS FOR ASSISTANCE CONTACT US TODAY FOR MORE INFORMATION, ADVICE OR HELP OPENING AN ACCOUNT, IT S EASY TO REACH US: BY PHONE Call us at 800 TIAA-CREF (800 842-2273) to speak with

More information

INVESTING FOR LIFE S GOALS

INVESTING FOR LIFE S GOALS TIAA-CREF LIFE GOALS SERIES INVESTING FOR LIFE S GOALS SAVING FOR MAJOR PURCHASES AND OBJECTIVES TIAA-CREF: FINANCIAL SERVICES FOR THE GREATER GOOD OUR COMMITMENT TIAA-CREF is dedicated to serving the

More information

Fidelity Freedom Lifetime Income. Annuity SECURE A STREAM OF INCOME THAT IS GUARANTEED FOR LIFE.

Fidelity Freedom Lifetime Income. Annuity SECURE A STREAM OF INCOME THAT IS GUARANTEED FOR LIFE. Fidelity Freedom Lifetime Income SECURE A STREAM OF INCOME THAT IS GUARANTEED FOR LIFE. Not Part of the Prospectus Fidelity insurance products are issued by Fidelity s Life Insurance Company (FILI), 100

More information

Guggenheim Life and Annuity Company. Provider Single Premium Immediate Annuity Product

Guggenheim Life and Annuity Company. Provider Single Premium Immediate Annuity Product Guggenheim Life and Annuity Company Provider Single Premium Immediate Annuity Product Reaching retirement is an achievement. But once you re there, will you have a regular, steady income that will last

More information

Couples Dual Questionnaire

Couples Dual Questionnaire Investor Profile Questionnaire Your responses will help us recommend a custom investment program tailored to your needs. Clients names How did you hear about us? Are you: Married Single Please complete

More information

The Guardian Investor Variable Annuities SM

The Guardian Investor Variable Annuities SM The Guardian Investor Variable Annuities SM Four Options to Choose From Guardian Target Now SM Guardian Target Future SM Guardian Target 200 SM Guardian Target 250 SM Designed to help you grow. guarantee.

More information

PRINCIPAL ASSET ALLOCATION QUESTIONNAIRES

PRINCIPAL ASSET ALLOCATION QUESTIONNAIRES PRINCIPAL ASSET ALLOCATION QUESTIONNAIRES FOR GROWTH OR INCOME INVESTORS ASSET ALLOCATION PRINCIPAL ASSET ALLOCATION FOR GROWTH OR INCOME INVESTORS Many ingredients go into the making of an effective investment

More information

Investing. Mutual Fund. ABC Company 123 Main Street Anywhere, USA 12345 www.sampleabccompany.com 800.123.4567

Investing. Mutual Fund. ABC Company 123 Main Street Anywhere, USA 12345 www.sampleabccompany.com 800.123.4567 Mutual Fund Investing Your promotional imprint here and/or back cover. ABC Company 123 Main Street Anywhere, USA 12345 www.sampleabccompany.com 800.123.4567 Mutual funds are one of the most popular ways

More information

Investing Basics and Your Retirement

Investing Basics and Your Retirement Christian Financial Credit Union Roberto Rizza, CRPC Financial Advisor CUSO Financial Services, LP 18441 Utica Road Roseville, MI 48066 586-445-3651 rrizza@cfcumail.org www.christianfinancialcu.org Investing

More information

Voya Retirement Insurance and Annuity Company

Voya Retirement Insurance and Annuity Company P E R F O R M A N C E U P D A T E Voya Retirement Insurance and Annuity Company STATE OF NEVADA DEFERRED COMP Separate Account D, Group Annuity Contract Average Annual Returns as of: 05/31/2016 (shown

More information

CONSIDERING A PENSION PAYOUT

CONSIDERING A PENSION PAYOUT CONSIDERING A PENSION PAYOUT Seven decision factors to help you determine whether to continue pension benefits or take a lump sum payout. 180k 160 140 120 100 80 60 40 20 0 1990 1995 2000 1985 2005 KEY

More information

Optional Asset Allocation program for participants

Optional Asset Allocation program for participants Richard Gagne Retirement Security Education 0207662 What is GoalMaker? Optional Asset Allocation program for participants Uses professional asset allocation modeling based on portfolios created by Morningstar

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

RETIREMENT INSIGHTS. Is It Time to Rebalance Your Plan Investments? Mutual Fund Categories: A Primer for New Investors

RETIREMENT INSIGHTS. Is It Time to Rebalance Your Plan Investments? Mutual Fund Categories: A Primer for New Investors RETIREMENT INSIGHTS July 2014 Your HFS Team Heffernan Financial Services 188 Spear Street, Suite 550 San Francisco, CA 94105 800-437-0045 rebeccat@heffgroup.com www.heffgroupfs.com CA Insurance Lic# 0I18899

More information

The George Washington University Retirement Plans. How to get started

The George Washington University Retirement Plans. How to get started The George Washington University Retirement Plans How to get started Table of Contents Why Save 3 Plans at a Glance 4 Approved Investment Providers 7 How to Enroll 8 Provider Fact Sheets 9 Investment Education

More information

Five Simple Steps to a Retirement Plan

Five Simple Steps to a Retirement Plan Retirement Five Simple Steps to a Retirement Plan Not FDIC Insured May Lose Value Not Bank Guaranteed OppenheimerFunds Five Simple Steps to a Retirement Plan Take a few minutes now and you ll be thankful

More information

An Institutional IRA

An Institutional IRA An Institutional IRA SVP Thomas Johnson, Jr. New York Life Insurance Company May 13, 2010 The Company You Keep Components of an Institutional IRA (IIRA) What are the critical components of an Institutional

More information

DSIP List (Diversified Stock Income Plan)

DSIP List (Diversified Stock Income Plan) Kent A. Newcomb, CFA, Equity Sector Analyst Joseph E. Buffa, Equity Sector Analyst DSIP List (Diversified Stock Income Plan) Commentary from ASG's Equity Sector Analysts January 2014 Concept Review The

More information

Retirement Income Investment Strategy by Andrew J. Krosnowski

Retirement Income Investment Strategy by Andrew J. Krosnowski Retirement Income Investment Strategy by Andrew J. Krosnowski Step 1- Income Needs-When formulating a successful strategy to generate income during retirement we feel that it is important to start by identifying

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

Generate Future Retirement Income for Essential Living Expenses

Generate Future Retirement Income for Essential Living Expenses Generate Future Retirement Income for Essential Living Expenses CASE STUDY Pacific Life s Fixed Indexed Annuities 10/15 90090-15A What Might You Face in Retirement? During your working years, you are likely

More information

Understanding the taxability of investments

Understanding the taxability of investments Understanding the taxability of investments Managing your portfolio to help control your tax bill Investors need to consider many factors in the process of choosing investments. One at the top of many

More information

Our time-tested approach to investing is very straightforward. And we re ready to make it work for you.

Our time-tested approach to investing is very straightforward. And we re ready to make it work for you. What Works Our time-tested approach to investing is very straightforward. And we re ready to make it work for you. Three important steps. Ten effective principles. Three important steps. Ten effective

More information

Chapter 1 Personal Financial Planning The Money Plan

Chapter 1 Personal Financial Planning The Money Plan Chapter 1 Personal Financial Planning The Money Plan Q: I am a high school student. I do not have money for investments or buying property. So what difference does it make how I spend my money now? A:

More information

FDIC-Insured Market-Linked Certificates of Deposit

FDIC-Insured Market-Linked Certificates of Deposit FDIC-Insured Market-Linked Certificates of Deposit I am more concerned with the return of my money than the return on my money. Mark Twain 9 Reasons to consider investing in MLCDs 1 Safety of FDIC-insured

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

Retirement plans should target income as the outcome

Retirement plans should target income as the outcome Retirement plans should target income as the outcome Forward-thinking plan sponsors are committed to helping their employees reach a secure retirement, and in recent years, they have made great strides

More information

Distribution-Focused Strategies A cash flow strategy for retirement

Distribution-Focused Strategies A cash flow strategy for retirement Distribution-Focused Strategies A cash flow strategy for retirement Designed by advisors to meet the need for steady cash flows in retirement with extensive flexibility and control all with low costs.

More information

The IBM 401(k) Plus Plan. Invest today for what you hope to accomplish tomorrow

The IBM 401(k) Plus Plan. Invest today for what you hope to accomplish tomorrow The IBM 401(k) Plus Plan Invest today for what you hope to accomplish tomorrow The IBM 401(k) Plus Plan Dollar-for-dollar company match, automatic company contributions, broad range of investment options

More information

Allianz MasterDex 10 Plus Annuity

Allianz MasterDex 10 Plus Annuity Allianz Life Insurance Company of North America Allianz MasterDex 10 SM Plus Annuity Start building today the life you want tomorrow CB51288-03 Page 1 of 16 Discover the MasterDex 10 Plus SM Annuity from

More information

Security Life of Denver Insurance Company

Security Life of Denver Insurance Company P E R F O R M A N C E U P D A T E Security Life of Denver Insurance Company Asset Portfolio Manager VUL Average Annual Total Returns as of: 05/31/2013 (shown in percentages) The following variable investment

More information

GLOSSARY OF INVESTMENT-RELATED TERMS FOR NATIONAL ELECTRICAL ANNUITY PLAN PARTICIPANTS

GLOSSARY OF INVESTMENT-RELATED TERMS FOR NATIONAL ELECTRICAL ANNUITY PLAN PARTICIPANTS GLOSSARY OF INVESTMENT-RELATED TERMS FOR NATIONAL ELECTRICAL ANNUITY PLAN PARTICIPANTS General Information This Glossary of Investment-Related Terms for National Electrical Annuity Plan Participants (the

More information

Investing Basics. Bank of the Bluegrass Wealth Management 215 Southland Drive Lexington, KY 40383 859-233-4500

Investing Basics. Bank of the Bluegrass Wealth Management 215 Southland Drive Lexington, KY 40383 859-233-4500 Bank of the Bluegrass Wealth Management 215 Southland Drive Lexington, KY 40383 859-233-4500 Investing Basics 2013 Page 1 of 9, see disclaimer on final page Saving and Investing Wisely The impact of 3%

More information

CHOOSE YOUR PATH. ENSURE THEIR FUTURE.

CHOOSE YOUR PATH. ENSURE THEIR FUTURE. CHOOSE YOUR PATH. ENSURE THEIR FUTURE. Investment Option Basics An overview of the CollegeAdvantage Direct 529 Savings Plan investment options. TABLE OF CONTENTS CHOOSE YOUR APPROACH...1 KNOW YOUR GOALS...2

More information

Retirement sustainability for defined contribution plan participants

Retirement sustainability for defined contribution plan participants By: Daniel Gardner, Defined Contribution Analyst MAY 2011 Sam Pittman, Senior Research Analyst Retirement sustainability for defined contribution plan participants Defined benefit pensions have largely

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

INVESTMENT TERM GLOSSARY

INVESTMENT TERM GLOSSARY A Accrued Interest - Interest that has been earned but not yet credited to a bond or other fixed-income investment, such as a certificate of deposit. Active Management The use of professional investment

More information

Voya Retirement Insurance and Annuity Company

Voya Retirement Insurance and Annuity Company P E R F O R M A N C E U P D A T E Voya Retirement Insurance and Annuity Company OPPORTUNITY PLUS Variable Annuity Account C, Non-Standardized Returns without a Deferred Sales Charge Average Annual Total

More information

Saving and Investing Wisely

Saving and Investing Wisely Quest Capital Management, Inc. 8235 Douglas Avenue Suite 500 Dallas, TX 75225 214-691-6090 info@questadvisor.com www.questadvisor.com Investing Basics Saving and Investing Wisely Saving builds a foundation

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

How Saving Too Much in Your 401(k) Could Cost You

How Saving Too Much in Your 401(k) Could Cost You November 2014 Investment Updates How Saving Too Much in Your 401(k) Could Cost You The idea of contributing too much to a company retirement plan may sound strange, but it can happen, especially if an

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

1. An IRA with a bank with the funds deposited in a variable-rate account.

1. An IRA with a bank with the funds deposited in a variable-rate account. Unit 11 Cases. Case 1. Goals and Portfolio Selection (P.891) Vanessa Avoletta is a very successful self-employed freelance writer of romantic novels. She has a reputation for writing rapidly and is able

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

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

Vanguard Financial Education Series investing. How to invest your retirement savings

Vanguard Financial Education Series investing. How to invest your retirement savings Vanguard Financial Education Series investing How to invest your retirement savings During your working life, you ve saved and invested for retirement. Now that you re finally reaching retirement, consider

More information

Money At Work 1: Foundations of investing

Money At Work 1: Foundations of investing It s not about how much money you earn. It s about how much you save and invest. November 12, 2015 A TIAA-CREF Financial Essentials Workshop Bill Thorne TIAA-CREF Money At Work 1: Foundations of investing

More information

401(k) Savings Plan Investment Fund Profiles Detailed Information on the JPMorgan Chase 401(k) Savings Plan Investment Funds

401(k) Savings Plan Investment Fund Profiles Detailed Information on the JPMorgan Chase 401(k) Savings Plan Investment Funds 401(k) Savings Plan Investment Fund Profiles Detailed Information on the JPMorgan Chase 401(k) Savings Plan Investment Funds Effective December 31, 2013 Please Note: Any significant subsequent updates

More information

Voya Retirement Insurance and Annuity Company

Voya Retirement Insurance and Annuity Company P E R F O R M A N C E U P D A T E Voya Retirement Insurance and Annuity Company THE OHIO STATE UNIVERSITY ARP Variable Annuity Account C, Non-Standardized Returns Average Annual Total Returns as of: 03/31/2015

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

Investment Protector. Allianz Vision SM Variable Annuity. Get protection with growth potential. Allianz Life Insurance Company of North America

Investment Protector. Allianz Vision SM Variable Annuity. Get protection with growth potential. Allianz Life Insurance Company of North America Allianz Life Insurance Company of North America Investment Protector Get protection with growth potential. Allianz Vision SM Variable Annuity VSN-103 Page 1 of 12 Build it. Use it. Pass it on. This brochure

More information

Please read this important information for Yale University Matching Retirement Plan participants

Please read this important information for Yale University Matching Retirement Plan participants Please read this important information for Yale University Matching Retirement Plan participants This notice gives you important information about the default investment funds selected for the Matching

More information

Your Thrift Plan Handbook... THRIFT PLAN. Thrift Plan for Retirees Table of Contents. Keys to having made the most of your savings:

Your Thrift Plan Handbook... THRIFT PLAN. Thrift Plan for Retirees Table of Contents. Keys to having made the most of your savings: Preset Mixes Table Your Thrift Plan Handbook... Keys to having made the most of your savings: THRIFT PLAN Be sure to choose a payment option To make the most of your benefits, meet with a Deseret Mutual

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