Retirement Planning Life Stages My name is [PRESENTER]. Welcome to this session about Retirement Planning Life Stages. We’re here to talk about retirement readiness. Some of you are just getting started and want information about how to enroll in your plan. Some of you are enrolled in your retirement plan but may want guidance on how much you should be contributing. Today we’ll be looking specifically at different life and career stages, and what you should know about them. Because the stage you’re in matters when it comes to saving for the future. The financial challenges you face in your 20s are different from the ones you face in your 50s. We’ll talk about these challenges and the actions you can take at each stage. Let’s look at ways to start or continue saving for retirement based on your life stage. Whether you’re just starting out in your career or you’re getting close to retirement, I’d like to help you understand the best steps to take now. Retirement Planning Life Stages Strategies for saving and planning for the future Retirement on the Brain

Speakers First Last Name Title, The Standard First Last Name [INTRODUCTIONS] Retirement on the Brain

Planning for retirement should be high on your to-do list. At every stage of your life and career. [READ SLIDE] But it can be hard to know where to start when you think about planning for the future. You might start with this question: What do you picture yourself doing in retirement? Relax. Start a home-based business. Pursue a hobby. Travel the world. Now is a good time to start saving for retirement or increasing your contributions. Your planning efforts will pay off later when you're ready to retire. Retirement on the Brain

Follow a simplified route to retirement readiness. [READ SLIDE] Your route to retirement can be a lot smoother if you start saving early. Here’s why: Saving more now allows more time for your earnings to compound. It’s easier to save a little throughout your career than a lot at the end of your career. Saving early lessens the chance of getting sidetracked by other expenses. In just a bit, we’ll talk about how we’ve simplified your route to retirement readiness by outlining what you might face at each stage.

How do you decide how much to be saving for retirement? Calculate the number of years before you retire Set your goals and priorities Look at your financial challenges How do you decide how much to be saving for retirement? Think about these factors: How many years are there before you plan to retire? What will your goals and priorities be after you retire? What financial hurdles might keep you from saving as much as you’d like?

Working Toward Your Goals Defining the Life Stages Life Stage: 20-35 How to Begin Building Life Stage: 36-50 Working Toward Your Goals Life Stage: 51+ Saving for What’s Next Let’s look at the three life stages and statistics about retirement planning at each stage. [READ COPY IN COLORED BOXES.] [READ 1 OR 2 STATISTICS IN EACH STAGE.] In the first stage – How to Begin Building: 72% say they’re saving for saving in 2017. 59% can comfortably cover their monthly household expenses. 35% use advisor to help them plan their finances. 54% are confident they’ll be able to retire when they want to. In the next stage – Working Toward Goals: 75% say they’re saving for retirement. 50% can cover monthly household expenses without difficulty. 41% use an advisor. 60% think they’ll be able to retire when they want to. In the Saving for What’s Next stage: 70% are saving for retirement. 51% consistently carry no credit card balances. 55% use an advisor. 54% plan to retire in the next five years. Source for all statistics: PwC 2017 Employee Financial Wellness Survey, pwc.com/us/financialeducation

Retirement on the Brain Life Stage: 20-35 Challenges Credit card debt and student loans Health care costs Lower wages, higher expenses Actions you can take Start making a plan Try to pay down debt How do you begin building when you’re in the 20-35 life stage? Planning for retirement may seem like a lot to think about as you’re starting your career. Let’s look at some of the challenges you face at this stage in your life. ‭Health care costs. Health care premiums and expenses go up ‭continually, making it a challenge to save for the future and fund ‭other goals.‭ Lower wages and higher expenses. Pay hasn’t kept up with costs ‭since the 1970s. Many people in the 20-35 age group struggle to meet ‭monthly expenses.‭ Social Security concerns. People in this age group worry that Social ‭Security will be gone by the time they need it, or that the benefits they ‭receive will be reduced. A major action you can take at this stage is to pay down your debt. Think about making an extra credit card or mortgage payment, if you have a mortgage, when it’s possible. At the same time, avoid taking on more debt to help you start saving for the future. Retirement on the Brain

Retirement on the Brain Life Stage: 36-50 Challenges Sandwich Generation stress Growing families Credit card debt Actions you can take Make or update your savings plan Focus on paying off debt From the ages of 36-50, you’ll want to focus on working toward your goals. Your challenges might include: Sandwich Generation stress. Many people in this age group are giving ‭financial support to both their parents and their kids. This situation can ‭make it harder to save. Growing families. Building a family can bring rewards and higher costs. ‭As people add family members, they take on bigger ‭health care premiums and medical expenses.‭ Credit card debt. Members of this age group are more likely to carry ‭credit card debt. They have a harder time making minimum ‭payments each month.‭ One action to take is to make or update your savings plan. Sit down and figure out a new budget that makes retirement planning a top priority. Help your parents and your adult children create budgets so you’re aware of the kind of support they may need. Retirement on the Brain

Retirement on the Brain Life Stage: 51+ Challenges Retirement concerns Multiple priorities Health issues Actions you can take Review your financial strategy Accelerate your savings When you’re nearing your actual retirement age, it’s important to keep saving and make other financial arrangements. You may be thinking about these obstacles to saving: ‭Retirement concerns. Many in the 51+ age group worry they won’t be ‭able to retire when they want to. Multiple priorities. Saving is a key priority for members of this group, but ‭paying off debt and covering living expenses can compete for dollars. Health issues. The goal might be to work past 65 or retire earlier. Either ‭way, health problems can hamper retirement readiness. Illness may also ‭lead people to retire sooner than planned. Keep in mind that it’s never too late to enroll in your employer’s retirement plan. Consider a double-digit contribution at this stage. Review your financial strategy and meet with a financial advisor for additional help. Know your estate planning options, and update your wills and trusts. Retirement on the Brain

Saving Mileposts Retirement on the Brain

Retirement on the Brain: Life Stages ‭To enroll in your retirement plan or increase your contribution, ‭ visit www.standard.com/retirement. No matter what life stage you’re in, participating in your employer-sponsored retirement plan is a great idea. Remember that: Saving is automatic and offers tax advantages. You’re in control of your investments. Making investment changes as you move through different life stages is simple to do. Contributions come directly out of your paycheck. You don’t see the money, so you aren’t tempted to spend it. Enroll or increase your contribution today. [DISTRIBUTE INFOGRAPHICS] Retirement on the Brain RP 19311 (11/17)

September 20, 2018