Plan Today, Own Tomorrow

1. Understand your monthly spending and /or monthly budget
2. Have a proper handle on your monthly income sources
3. Don’t forget about medical or health care cost
4. Decide whether you are going to enlist the help of a financial professional
5. Develop a written financial plan

1. Method #1- Systematic Withdrawal- Also know as the 4% withdrawal rule or “Goal-based”
2. Method #2- Time-segmentation or “bucketing”
3. Method #3- Income Flooring
4. Method #4- Guaranteed Cash Flow planning

Why can retirement be so stressful? 1. Focus on the big picture, not just potential returns 2. Consolidate your accounts 3. Broad diversification 4. Automate your income 5. Strip your investment strategy down 6. Go green-paperless 7. Can a “bucket plan” help you?

1. How much money do I need to retire?
2. What is an RMD?
3. How do taxes work with my social security and/or pension plan?
4. How much could healthcare cost in retirement?
5. When can I withdraw money from my retirement accounts?

• Stock market downturn at the wrong time
• Not enough diversification
• Fear of uncertainty
• Not enough monthly income

1. What is an annuity?
2. Immediate vs Deferred- the difference
3. Does the beneficiary inherit your payment or your cash value?
4. Do you have to annuitize your annuity to turn it into a income stream?
5. Is there any insurance on the annuity or payment?
6. How do the fees work?
7. How do annuities earn interest?
8. How does the insurance agent or financial advisor get paid for the annuity?

Bonus!

Do insurance agents or financial advisor have multiple options for annuities they can use?

• Inflation Risk
• Longevity Risk
• Long-term illness/Chronic Illness Risk
• Rising health care cost
• Emotional/irrational investor behavior
• Losing money “safely”
• Sequence of return risk

1. Investing too conservatively
2. Best way to approach the lump sum vs. pension decision
3. Focusing on your assets instead of your retirement income
4. Choosing the right Medicare plan

1. How long do you plan to work? What are some pros and cons?
2. How long will your retirement last? Identifying income sources, tracking your expense, planning for inflation and managing risk!
3. How will you generate income in retirement? Guaranteed income, Non-guaranteed income and Combination income!
4. What is the ultimate purpose of your assets?

1. What is a “financial milestone?”
2. Age 55, age 59.5, Age 62, age 65, age 66-67, age 70 and age 72
3. What about Medicare and all it’s moving parts?
4. Other financial milestones that change your life (College planning, marriage and divorce)