When retirement concerns shift from How should I accumulate funds for retirement? to Will my retirement funds last throughout my retirement?

You need a…

Shifting Retirement Concerns

Are you planning for enough years? Will you run out of money? How long will your retirement last?

Your Life Phases Children grown, Just Two of You Children Off to College, Focus on Career Home Purchase, Children Start Career, Marriage Higher Education, Trade School  Planning for your life  Natural phases  Determined by activities

 Planning for all retirement years  Retirement phases  Classify by activities Retirement Lifestyle Phases

Pre-Retirement – the “Decision Phase”  Decisions that affect your income for life.  Take Social Security when first eligible?  Do you stop working, or just slow down?  Decisions that change your retirement lifestyle. Retirement Lifestyle Phases Decisions (Pension, Soc. Sec., Changes)

Initial Retirement  Little change  Work replaced with hobbies, travel, activities, etc.  70% of current income for basic needs (adjusted for inflation)  20% for current income extra activities (adjusted for inflation) Retirement Lifestyle Phases Decisions (Pension, Soc. Sec., Changes) Travel, Hobbies, Activities

Seasoned Retirement  Decreased activities  Less travel, hobbies, and other activities  70% of current income for basic needs (adjusted for inflation)  10% for current income extra activities (adjusted for inflation) Retirement Lifestyle Phases Travel, Hobbies, Activities Less Activities, Less Travel Decisions (Pension, Soc. Sec., Changes)

Matured Retirement  Much less activities  Health or other physical limitations  70% of current income for basic needs (adjusted for inflation)  No additional income needed due to no additional activities Retirement Lifestyle Phases Less Activities, Less Travel Reduced Activities, Health Considerations Travel, Hobbies, Activities Decisions (Pension, Soc. Sec., Changes)

Survivorship Years The lifestyle costs after losing your spouse are usually at least 60% of pre-retirement income. Retirement Lifestyle Phases Reduced Activities, Health Considerations Period Following a Death Less Activities, Less Travel Travel, Hobbies, Activities Decisions (Pension, Soc. Sec., Changes)

 Inflation continues to rise each year  Retirement income needs to increase  Maintain spending power  Preserve your lifestyle Retirement Must Consider Inflation

Steps for Your Retirement Journey Determine the likely times of your retirement phases

Examine lifestyle requirements for each phase Basic Needs Additional Wants Total Desired Income equals Steps for Your Retirement Journey plus

Determine source of retirement income  Social Security  Pensions  Qualified Retirement Plans  Annuities or Other Income Steps for Your Retirement Journey

Determine the likely times of your retirement phases Steps for Your Retirement Journey Examine lifestyle requirements for each phase Basic Needs Additional Wants Total Desired Income equals plus Determine source of retirement income  Social Security  Pensions  Qualified Retirement Plans  Annuities or Other Income

Steps for Your Retirement Journey Desired Income Requirements Known Sources of Income Remaining Requirements Remaining requirements may be provided by your available assets for retirement. equals less Calculate remaining requirements

Start your journey  Plan for shortfalls  Invest by phases Steps for Your Retirement Journey

Investing by Phases Changing investment strategies of retirement assets Shift by phases  Minimize fluctuation of assets for the next phase.  Seek high yields for future.  Reallocate assets at the start of each phase.  Very conservative assets supply income.

Initial Retirement Seasoned Retirement Matured Retirement Survivorship Years The start of each phase is your retirement checkpoint and a reallocation point.

Action Plan 1.Today 2.Take home 1. Retirement Road Map Brochure 1.Phone 2. 3.Mail 2. Answers to the six questions 1.Determine your phases 2.Lifestyle 3.Income Sources 4.Remaining Needs 5.Plan for Shortfalls 3. Appointment 4. Relax and enjoy the ride

Personalize Your Road Map