Retirement Income Planning:
Balance
Retirement Income Planning:Balance
Assets• Retirement Savings• Pensions• Investments• Property
Expenditures• Mortgage / taxes• Insurances
• Home/auto/life/medical• Utilities• Food / Gas • Entertainment
Retirement Income Planning:Balance
• Cash flow– When you need to
know where money is going
– Analysis
• Budgeting– When you need to
control how much and where money is going
– Planning & Implementation
Budget
Cash flow
Retirement Income Planning:Balance
• Determine your expected cash flow needs– Start with current expenditures– Major Categories
• Food• Utilities• Mortgage• Health Care• Transportation• Housing
– The more detailed you get, the more accurate you will be
Retirement Income Planning:Balance
• Determine your expected cash flow needs– Consider using a tool that will
help you track expenses• Mint.com• Quicken• Spreadsheets
– Attend our Budgeting & Cash Flow Analysis seminar
Assets• Retirement Savings• Pensions• Investments• Property
Expenditures• Mortgage / taxes• Insurances
• Home/auto/life/medical• Utilities• Food / Gas • Entertainment
Retirement Income Planning:Balance
Retirement Income Planning:Balance
• Assets– Retirement savings• 401k/403B• IRA
– Social Security Income– Pensions– Other assets: i.e. investments, savings, HSA,
investment property
Retirement Income Planning:Balance
Retirement Income Planning:Balance
Estimating Income • 4% Rule of thumb– 4% annual
withdrawal rate from investments
• Add annual Social Security Income
• Add annual Pension Income
Retirement Income Planning:Balance
AssetsExpenditures
Retirement Income Planning:Balance
You: the CEO of your Retirement Business– Decision-maker– Manager
Retirement Income Planning:Balance
You: CEO– Pre-retirement• Changes to Expenditures
– Find spending to cut
• Changes to Assets– Increase savings
– Post-retirement• Changes to Expenditures
– Find spending to cut
Or you risk running out of money– longevity risk
Retirement Income Planning:Balance
You: CEO– Create and
implement a budget • To reduce & control
spending• To increase
accumulation by saving
Retirement Income Planning:Balance
You: CEO– Social Security
options• 62, 66, 70• One spouse,
both spouses
www.ssa.gov
Retirement Income Planning:Balance
You: CEO– 401k• Remain in plan or roll out
– Roth • When to use
– Safer investments• Income producing
– Amway pension• Lump sum or Annuity
– Investment property• Keep or Sell
Retirement Income Planning:Balance
You: CEO– Ongoing coordination
of asset distribution to produce required income stream
Social Security
401(k)
Pension
Retirement Income Planning:Balance
You: CEO– Simplify, if necessary
– Consolidate» Under one roof» Into one account
– Automatic payments
IRA
IRA
401(k)
Pension Lump
Retirement Income Planning:Balance
You: CEO– Look for help• Taxes
– Strategy– Calculation
• Financial Adviser– Wholesale vs. Retail– Fiduciary Standard
Personal Consultations• Consider your specific
situation• Free for all Amway
employees• Spouses are welcome to
attend• What to bring:
– Fidelity login credentials– Outside asset list– Social Security Statement– Target Retirement Year– Estimate of monthly income
needs
Thank YouSchedule your personal consultation now!
Visit http://amway.bemanaged.comContact us at (616) 871-0751 or (888) 738-8780
What to bring:Fidelity login credentialsOutside asset listSocial Security StatementTarget Retirement YearEstimate of monthly income needs