Managing retirement income if your client has not saved enough Written by Rainier van der Nest, business development manager at Glacier by Sanlam
|
|
- Hugh Thompson
- 5 years ago
- Views:
Transcription
1 FUNDS ON FRIDAY b y G l a c i e r R e s e a r c h 2 6 A p r i l V o l u m e Managing retirement income if your client has not saved enough Written by Rainier van der Nest, business development manager at Glacier by Sanlam Poor savings behaviour in South Africa A common challenge for financial intermediaries is that the average client does not save enough. This is never quite as evident as when such a client reaches retirement and expects their retirement savings to provide the same level of income as they were earning before retirement. So why does this occur? The Sanlam Benchmark Survey highlights the following differences between ideal savings behaviour, and the reality: People start saving too late (28 years of age vs suggested 23). People save too little. (The average savings rate is 7% vs the suggested minimum of 15%). 62% of individuals do not reinvest retirement savings at retrenchment or job changes. 38% don t get retirement saving advice. 90% do not ever relook their pension options after initially signing up. 92% of retirees do not have adequate savings A person s retirement savings are deemed adequate if they can substitute at least 75% of their final income, something only 8% of retirees achieve. This leaves a staggering 92% of people under the 75% income replacement ratio. Yet quite often, clients only start engaging with financial intermediaries at retirement stage, expecting to receive the same salary during retirement. However, figures from the Sanlam Benchmark survey show that the actual income replacement ratio is closer to 40% of final salary. This is far removed from the preferred 75%. The fact that many people can only replace 40% of their final salary during retirement leads to other dilemmas. The Benchmark research shows that 51% of retirees struggle to make ends meet, and that a third of retirees can t cover their medical expenses. Page 1
2 Retirement realities Is there an ideal solution to address all of these issues? Short of actually saving more, starting to save earlier, working longer, and importantly preserving retirement savings when changing jobs, the answer is unfortunately NO. The reality is that at retirement, clients need to understand that their retirement savings have a certain income purchasing value, which is not necessarily going to be the same as their final income pre-retirement. If clients draw income above this value, the chances of facing longevity risk (outliving their savings) become exponentially higher. If they try to grow their retirement savings by investing more aggressively, they then increase their market risk exposure. The combination of both of these factors increases the risk of capital depletion in future. So what are the realities we need to come to terms with? Clients who reach retirement without having saved enough will have to make some tough decisions, together with their financial intermediaries. The main objective of retirement planning is to ensure a sustainable retirement income for the remainder of one s life. This may mean starting off with a lower income in retirement, in order to ensure that the capital lasts. The client, together with their financial intermediary, should consider all available retirement income options. For some clients, an Investment-Linked Living Annuity (ILLA) may not be the best solution. For many retirees, combining an ILLA with a guaranteed annuity may be the best way to secure a sustainable income. At the point of retirement, it thus becomes extremely important that a client, together with his financial intermediary, start planning this income stream based on the assets they have to work with. This is not a once-off exercise. It is equally important for retired clients to meet with their financial intermediaries at least annually, to review their portfolios. Glacier s ICE tool is a valuable resource that can assist with determining the appropriate income withdrawal so that a client s capital is not depleted. Let s look at an example: 60 Year-old male R5 million retirement savings Requiring income of R30k (7.2% initially) per month escalating with 7% per annum. The income illustration shown below reflects a moderate risk profile, assuming 10% portfolio growth per annum. At age 73, the income escalation is no longer sustainable, which means that income starts depleting in real terms. Page 2
3 The illustration below also shows capital depletion. Scenario 1: Living Annuity with R30k monthly income To provide a more sustainable real income, we need to start with a lower retirement income. The illustration below shows an income of R20k (4.8% initially) per month using the same scenario. The income stream is more sustainable while still maintaining purchasing power. We also see that the capital is preserved. Page 3
4 Scenario 2: Living Annuity with R20k monthly income Working through these scenarios together with the client can be a sobering but valuable exercise. A financial intermediary can use these examples to show clients the benefit that a lower staring income has on both the sustainability of their income stream and capital preservation. Effect of starting with a lower income in year one: Comparison of annual income How to optimise a client s retirement income The next question to ask is whether the proposed scenario could possibly be optimised. Consider initially splitting the retirement capital into a Glacier Investment-Linked Living Annuity and a Glacier Investment-Linked Lifetime Income Plan (ILLI). The ILLI combines features of the guaranteed annuity with the investment flexibility of the ILLA. The following illustration compares scenario 2, where R20k per month was used, with a third scenario, splitting the retirement capital between an ILLA (70%) and Glacier s ILLI (30%). For this scenario an allowance was made for a spouse to continue to earn an income after the client passes away. Allowance was made for 50% of income and assumed the spouse was aged 60. To provide for additional planning in favour of dependants, the scenario also includes a 10-year certain term, where the full income will be paid to beneficiaries for 10 years after the client passes away. Lastly, a 3% income acceleration was used, allowing the investor to boost income in the early years by borrowing from future income growth. Page 4
5 ILLI/ILLA combination versus scenario 2: Comparison of income In the illustration above the red and grey bars show the total annual income from the ILLI/ILLA combination, while the blue line shows the income from the ILLA under scenario 2. Although initially the income streams are similar, the ILLI/ILLA combination provides a more sustainable income to benefit the client later in retirement. Conclusion Ideally clients want to retire with the same income as their pre-retirement salary, yet reality shows that this seldom happens. Effective retirement planning throughout the entire retirement lifecycle is one of the greatest value propositions today s financial intermediary can strive to offer clients, in order to ensure a successful retirement outcome. It is the role of a financial intermediary to guide retirees, and those entering retirement, through a process of understanding that an optimal income stream is more ideal than trying to start with an income stream that is the highest in year one. Page 5
RETIREMENT INCOME CONSIDERATIONS
RETIREMENT INCOME CONSIDERATIONS Investment-Linked Lifetime Income Plan THINK WORLD CLASS WHICH TYPE OF RETIREMENT INCOME PRODUCT TO PURCHASE? No matter who we are, we all need to make certain decisions
More informationPAT R I C K S H E E H Y
O PTIMISING ANNUITY STRATEGIES FOR A SUSTAINABLE I NCOME IN RETIREMENT PAT R I C K S H E E H Y DECIDING ON AN OPTIMAL ANNUITY STRATEGY. THE CLIENT S PERSPECTIVE Where will I get the most long term income?
More informationThe benefits of increasing offshore exposure in post-retirement: Written by: Luke McMahon, Research and Investment Analyst at Glacier by Sanlam
FUNDS ON FRIDAY b y G l a c i e r R e s e a r c h 16 M a r c h 2 0 1 8 V o l u m e 9 4 9 The benefits of increasing offshore exposure in post-retirement: Written by: Luke McMahon, Research and Investment
More informationRETIREMENT INCOME SOLUTIONS
RETIREMENT INCOME SOLUTIONS THINK WORLD CLASS GLACIER RETIREMENT INCOME SOLUTIONS INTRODUCING GLACIER Glacier by Sanlam brings together leading experts and respected financial services companies to meet
More informationADVISOR USE ONLY PAYOUT ANNUITY OVERCOMING OBJECTIONS. Life s brighter under the sun
ADVISOR USE ONLY PAYOUT ANNUITY OVERCOMING OBJECTIONS Life s brighter under the sun Overcoming objections Overview > > Payout annuities are a powerful retirement tool and have been an important product
More informationPENTEGRA RETIREMENT SERVICES DISTRIBUTION PATHTM. The path to helping participants plan successfully
PENTEGRA RETIREMENT SERVICES DISTRIBUTION PATHTM The path to helping participants plan successfully Making a secure retirement a reality. What are your choices? What s the right amount? What s the best
More informationOPTIONS AVAILABLE TO MEMBERS ON LEAVING (Applicable to members leaving post March 2009)
OPTIONS AVAILABLE TO MEMBERS ON LEAVING (Applicable to members leaving post March 2009) REASONS FOR LEAVING YOUR RETIREMENT FUND You are likely to leave your fund: 1. If you leave your company due to resignation,
More informationSequencing-of-returns risk Written by: Francis Marais Senior Research and Investment Analyst at Glacier by Sanlam
FUNDS ON FRIDAY b y G l a c i e r R e s e a r c h 1 S e p t e m b e r 2017 V o l u m e 9 24 Sequencing-of-returns risk Written by: Francis Marais Senior Research and Investment Analyst at Glacier by Sanlam
More informationOptions available on retrenchment (Applicable to members leaving post March 2009) The contents of this document
Options available on retrenchment (Applicable to members leaving post March 2009) The contents of this document This document explains the different options you have available to you when you leave your
More informationGuaranteed Income in a Defined Contribution Plan:
At-A-Glance Guaranteed Income in a Defined Contribution Plan: Important Considerations for Plan Fiduciaries By Tina M. Wilson, CFA Vice President, Product Development, MassMutual Retirement Services Division
More informationInternational Agricultural Research Centers International Retirement Plan. Investment Planning in Retirement
International Agricultural Research Centers International Retirement Plan Investment Planning in Retirement Contents Keeping my assets safe... 1 LifeCycle Strategy... 1 Taking Regular Withdrawals... 2
More informationU n d e r s t a n d i n g. a t r e t i r e m e n t. your pension options MEMBER NEWSLETTER JULY. Update from the Principal Officer
MEMBER NEWSLETTER JULY Update from the Principal Officer Dear Members In the previous edition of The NestEgg we ended off briefly discussing retirement planning considerations you need to be aware of,
More informationFPO THE VALUE OF INTEGRATING RETIREMENT ASSETS: CREATING A RELIABLE INCOME IN RETIREMENT
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY (NORTHWESTERN MUTUAL) THE VALUE OF INTEGRATING RETIREMENT ASSETS: CREATING A RELIABLE INCOME IN RETIREMENT FPO 90-2596 (1016) You save and sacrifice throughout
More informationBreaking Free from the Safe Withdrawal Rate Paradigm: Extending the Efficient Frontier for Retiremen
Breaking Free from the Safe Withdrawal Rate Paradigm: Extending the Efficient Frontier for Retiremen March 5, 2013 by Wade Pfau Combining stocks with single-premium immediate annuities (SPIAs) may be the
More informationThe evolving retirement landscape
The evolving retirement landscape This report has been sponsored by A Research Report by Lauren Wilkinson and Tim Pike Published by the Pensions Policy Institute May 2018 978-1-906284-52-23 www.pensionspolicyinstitute.org.uk
More informationThe Short Series on Retirement Planning
DRW Investment Research The Short Series on Retirement Planning Edition 2 Retirement income drawdown strategies: Evaluating different drawdown rules By Daniel R Wessels December 2016 You have retired from
More informationSPIAs. Single Premium Immediate Annuities. Annuity Product Guides. Convert your retirement savings into a guaranteed lifetime income stream
Annuity Product s SPIAs Single Premium Immediate Annuities Convert your retirement savings into a guaranteed lifetime income stream Modernizing retirement security through trust, transparency and by putting
More informationANNUITIES. demystified. Loreta Dienst 30 May 2017
ANNUITIES demystified Loreta Dienst 30 May 2017 DID YOU KNOW? that around 50% of 60 year old males live past 81 and females past 87! Don t under-estimate the importance of your retirement income planning
More informationWhat do you want? Managing risks for better outcomes when you retire
What do you want? Managing risks for better outcomes when you retire By Warren Matthysen Presented at the Actuarial Society of South Africa s 2018 Convention 24 25 October 2018, Cape Town International
More informationThe TAMRIS Consultancy
Variable Annuities + GMWBs A Review of Sequence of Return Arguments Contents 1 A REVIEW OF SEQUENCE OF RETURNS ARGUMENTS...2 2 LIFE CYCLE WEALTH MANAGEMENT...2 2.1 INCOME AND CAPITAL SECURITY...3 2.2 LIFE
More informationRetirement Seminar Presentation
Retirement Seminar Presentation Olivia van der Hoven UCTRF Principal Officer Dave Strugnell AU-nominated trustee 1 Broad agenda for today: Choices for those not due to retire this year Options and information
More informationA guide to your retirement income options with TIAA-CREF
A guide to your retirement income options with TIAA-CREF Helping you make important decisions about your retirement How will I know when the time is right to retire? Making the decision to retire is no
More informationAccurium SMSF Retirement Insights
Accurium SMSF Retirement Insights A new way of thinking about retirement income Volume 7 February 2018 The government s new retirement income initiatives for superannuation funds won t include SMSFs. To
More informationAre Your Allocations Right for Social Security?
Are Your Allocations Right for Social Security? Are Your Allocations Right for Social Security? Nothing exists in a vacuum, meaning that even if you ve determined the best time and method of taking your
More informationTheUltimateAnnuityBuyer sguide. dddd. 7Sure-FireTipsToGeneratingMoreIncome, Growth,AndPreservationOfPrincipal. ProvidedBy:
TheUltimateAnnuityBuyer sguide dddd 7Sure-FireTipsToGeneratingMoreIncome, Growth,AndPreservationOfPrincipal ProvidedBy: 7 Key Tips For Purchasing Annuities In Today s Market TIP #1 Company Ratings Matter!
More informationFacilitator Guide. Program Goal: To define and examine practices that maximizes money for retirees.
Facilitator Guide Maximizing Your Dollars in Retirement The trouble with retirement is that you never get a day off. Abe Lemons Rationale: Feeling financially secure is important at all stages of life.
More informationTackling the retirement challenge
Tackling the retirement challenge Securitor Conference Nathalie Bouquet Head of Technical Services Disclaimer The information contained in this presentation is current as at 30 March 2012 unless otherwise
More information2015 ERISA Advisory Council Model Notices and Disclosures for Pension Risk Transfers May 28, 2015
2015 ERISA Advisory Council Model Notices and Disclosures for Pension Risk Transfers May 28, 2015 Good afternoon, members of the Council. My name is Roberta Rafaloff. I am a vice president in Corporate
More informationUnilever SA Pension Fund
Unilever SA Pension Fund Getting Ready for Retirement Effective 1 March 2017 Practical Issues Introduction Your retirement is an important milestone in your life. The purpose of this guide is to assist
More information5BIG THREATS TO YOUR RETIREMENT
5BIG THREATS TO YOUR RETIREMENT As your career winds down, consider incorporating a wealth preservation strategy to help protect your nest egg and, through proper strategy, generate income for life. Welcome
More informationWhite Paper. The truth about institutional income annuities
White Paper The truth about institutional income annuities More often than not, the word annuity raises concerns because of conventional wisdom that all annuities are costly, complicated, offer limited
More informationretirement income plan
Retirement income guide Build a retirement income plan to last a lifetime What s inside Let s talk about retirement Four factors drive your retirement income strategy Where do you want to be in retirement?
More informationIndexed Annuities. Annuity Product Guides
Annuity Product Guides Indexed Annuities An annuity that claims to offer longevity protection along with liquidity and upside potential but doesn t do any of it well Modernizing retirement security through
More informationTowards a Sustainable Retirement Plan VIII
DRW INVESTMENT RESEARCH Towards a Sustainable Retirement Plan VIII Post-Retirement Annuity Income: An Evaluation of Income Withdrawal Strategies Daniel R Wessels July 2014 1. Introduction Every year living
More informationUsing Life Insurance for Pension Maximization
Using Life Insurance for Pension Maximization Help Your Clients Capitalize On Their Pension Plans Marketing Guide 23162 For agent use only. not to be used for consumer solicitation purposes. 11/15 Help
More informationWhat is the status of Social Security? When should you draw benefits? How a Job Impacts Benefits... 8
TABLE OF CONTENTS Executive Summary... 2 What is the status of Social Security?... 3 When should you draw benefits?... 4 How do spousal benefits work? Plan for Surviving Spouse... 5 File and Suspend...
More informationLIBERATOR LIVING ANNUITY
LIBERATOR LIVING ANNUITY Get the retirement you worked so hard for, with an investment that rethinks how you retire. 20180416 Liberty Living Annuity Botswana.indd 1 2018/04/16 4:48 PM 2 Liberator Living
More informationmy money for life TM REMOVE THE RISK FROM YOUR RETIREMENT INVESTMENTS WITH A LIFETIME ANNUAL INCOME GUARANTEE
my money for life TM REMOVE THE RISK FROM YOUR RETIREMENT INVESTMENTS WITH A LIFETIME ANNUAL INCOME GUARANTEE WHAT IS my money for life? HELPING YOU MANAGE YOUR RETIREMENT INCOME RISKS WITHDRAWING MONEY
More informationIML White Paper Sequencing Risk: Pre- and Post-Retiree Dilemma
Welcome to the IML s first White Paper exploring Sequencing Risk. Sequencing risk is the risk of experiencing poor investment performance at the wrong time, typically when the portfolio balance is at its
More informationFIAs. Fixed Indexed Annuities. Annuity Product Guides
Annuity Product s FIAs Fixed Indexed Annuities An annuity that claims to offer longevity protection along with liquidity and upside potential but doesn t do any of it well Modernizing retirement security
More informationRetirement Income Planning With Annuities. Your Relationship With Your Finances
Retirement Income Planning With Annuities SAMPLE Your Relationship With Your Finances E SA MP L There are some pretty amazing things that happen around the time of retirement. For many, it is a time of
More informationRetirement Income Planning With Annuities. Your Relationship With Your Finances
Retirement Income Planning With Annuities Your Relationship With Your Finances There are some pretty amazing things that happen around the time of retirement. For many, it is a time of incredible change,
More informationImpact of the Market Crisis on Retirement Preparedness
Prudential s Four Pillars of Retirement Series Impact of the Market Crisis on Retirement Preparedness Americans are rebuilding their retirement savings, and considering guarantees to protect their future
More informationHello and good morning/afternoon. I m with MetLife, and today I d like to talk to you about a new way that your clients can build future, pension
Hello and good morning/afternoon. I m with MetLife, and today I d like to talk to you about a new way that your clients can build future, pension like lifetime income. But this new annuity product from
More informationPlanning for Income to Last
Planning for Income to Last Retirement Income Planning Not FDIC Insured May Lose Value No Bank Guarantee This guide explains why you should consider developing a retirement income plan. It also discusses
More informationEstablishing Your Retirement Income Stream
1 Establishing Your Retirement Income Stream What is important about retirement planning to you? 2 Building your retirement house 4 Legacy Benefits 3 2 Retirement income planning Accumulation 1 Expenses
More informationINTRODUCING THE SANLAM LIFE ANNUITIES
LIFE ANNUITIES Our guaranteed life annuities give your clients the certainty of a lifelong retirement income, and the opportunity to provide for their loved ones after their death. LIFE ANNUITIES BY INTRODUCING
More informationSocial Security Analysis & Recommendation
Social Security Analysis & Recommendation Prepared for Joe Example and Jane Example The Impact of Starting Age on Monthly Many personal and household factors can influence your Social Security retirement
More informationSanlam Umbrella Fund In-Fund options. A smooth path from pre- to post-retirement
Sanlam Umbrella Fund In-Fund options A smooth path from pre- to post-retirement Continuous membership of the Sanlam Umbrella Fund The world of retirement is currently going through its most intense period
More informationThe MassMutual Single Premium Immediate Annuity (SPIA) Synergy Study
A Research Report for Individuals The MassMutual Single Premium Immediate Annuity (SPIA) Synergy Study New Planning Approaches and Strategies for the Retirement Income Challenge A Research Report August
More informationFixed Annuities. Annuity Product Guides. A safe, guaranteed and tax-deferred way to grow your retirement savings.
Annuity Product Guides Fixed Annuities A safe, guaranteed and tax-deferred way to grow your retirement savings Modernizing retirement security through trust, transparency and by putting the customer first
More informationBig Threats to a Secure Retirement
5 Big Threats to a Secure Retirement As your career winds down, consider incorporating a proven wealth preservation strategy to protect your nest egg and generate income for life. Welcome to the New Planning
More informationAnnuities. Stretch Your Assets. Create A Lasting Legacy by Stretching Your IRA Fixed Annuities
Annuities Stretch Your Assets Create A Lasting Legacy by Stretching Your IRA Fixed Annuities There are times in our lives we wish would never end... like special moments with family and friends. There
More informationRetirement. Optimal Asset Allocation in Retirement: A Downside Risk Perspective. JUne W. Van Harlow, Ph.D., CFA Director of Research ABSTRACT
Putnam Institute JUne 2011 Optimal Asset Allocation in : A Downside Perspective W. Van Harlow, Ph.D., CFA Director of Research ABSTRACT Once an individual has retired, asset allocation becomes a critical
More informationMetLife Retirement Income. A Survey of Pre-Retiree Knowledge of Financial Retirement Issues
MetLife Retirement Income IQ Study A Survey of Pre-Retiree Knowledge of Financial Retirement Issues June, 2008 The MetLife Mature Market Institute Established in 1997, the Mature Market Institute (MMI)
More information5 BIG THREATS TO A SECURE RETIREMENT Make Your Wealth Last A Lifetime
5 BIG THREATS TO A SECURE RETIREMET Make Your Wealth Last A Lifetime YOUR LOGO Slog As you approach retirement, we will help you shift from asset accumulation and growth to wealth preservation and guaranteed
More informationBASIC GUIDE TO YOUR RETIREMENT INCOME OPTIONS
BASIC GUIDE TO YOUR RETIREMENT INCOME OPTIONS This guide is for you if you have personal pensions or company money purchase pension schemes. If you have defined benefit (final salary) pensions or are unsure
More informationShould 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 informationFrequently Asked Questions About QLACs and IRAs
Frequently Asked Questions About QLACs and IRAs If you have an IRA or other qualified retirement plans and are over the age of 50, you should know about a planning opportunity using something called a
More informationPENSION FREEDOM ENDLESS POSSIBILITIES
PENSION FREEDOM ENDLESS POSSIBILITIES A guide to our At Retirement tool Pensions THIS IS FOR FINANCIAL ADVISER USE ONLY AND SHOULDN T BE RELIED UPON BY ANY OTHER PERSON. THE CHANGING FACE OF RETIREMENT
More informationComplete your retirement picture with guaranteed income
Complete your retirement picture with guaranteed income ANNUITIES INCOME Brighthouse Income Annuity SM Add immediate income for more certainty. All guarantees are subject to the claims-paying ability and
More informationPlanning for income to last
For Investors Planning for income to last Retirement Income Planning Understand the five key financial risks facing retirees Determine how to maximize your income sources Develop a retirement income plan
More informationSTAGGERED ANNUITISATION IN PRACTICE
STAGGERED ANNUITISATION IN PRACTICE A GUIDE FOR FINANCIAL ADVISERS To be used in conjunction with: Retire Smarter: new strategies towards a comfortable retirement, Dr David F Babbel PhD, October 2017 STAGGERED
More informationSun Life Financial Advisor Guide
Sun Life Financial Advisor Guide managed by CI Investments Inc. issued by Sun Life Assurance Company of Canada SunWise Essential Series 2.............................. 1 Retirement risks.......................................
More informationNorth American. Charter Plus 10. Fixed Index Annuity 25304Z-20 PRT 4-17
25304Z-20 PRT 4-17 North American Charter Plus 10 Fixed Index Annuity Retirement. many people, retirement is viewed as a time of rest and reflection. They have worked hard and planned diligently to ensure
More informationRethinking post-retirement asset allocation
Rethinking post-retirement asset allocation While growth assets are widely accepted in asset allocation decisions during the accumulation phase, many investors overlook the benefit allocating to shares
More informationA RANGE OF INVESTMENT SOLUTIONS TO MEET DIVERSE CLIENT NEEDS
A RANGE OF INVESTMENT SOLUTIONS TO MEET DIVERSE CLIENT NEEDS Choose the most suitable investment solutions for your clients with the Glacier Solutions Guide. You have many clients, each with their own
More informationYour dreams don t retire Why should your money?
Your dreams don t retire Why should your money? INTRODUCING THE FLEXIBLE ANNUITY FROM LIBERTY. Liberty s Flexible Annuity allows you to reinvest your retirement savings so that they keep growing, and provides
More informationRA or TFSA? - Maximising after-tax returns Written by: Francis Marais, Research & Investment Analyst at Glacier by Sanlam
FUNDS ON FRIDAY b y G l a c i e r R e s e a r c h 26 F e b r u a r y 2 0 1 6 V o l u m e 8 5 1 RA or TFSA? - Maximising after-tax returns Written by: Francis Marais, Research & Investment Analyst at Glacier
More informationLive confidently in retirement. Fixed income annuities through Vanguard Annuity Access
Live confidently in retirement Fixed income annuities through Vanguard Annuity Access Retire confidently knowing your savings can last for life Dependable income for life? It s not too good to be true.
More informationAnnuities: Why they are so important and why they are so difficult to provide
Annuities: Why they are so important and why they are so difficult to provide Professor David Blake Director Pensions Institute Cass Business School d.blake@city.ac.uk June 2011 Agenda The critical role
More informationPlanning for a Comfortable Retirement
Planning for a Comfortable Retirement How deferred income annuities can help TABLE OF CONTENTS What Does Retirement Look Like? 2 Saving for Retirement 4 How Much Will You Need? 6 Making Your Money Last
More informationAn Educational Workshop
An Educational Workshop Presented by: James R. Grazioli - President Comprehensive Financial Group Inc. Financial Service Professional 27 Yrs. A Discussion of: 1. The Importance of Lifetime Income Pension
More informationDetermining a Realistic Withdrawal Amount and Asset Allocation in Retirement
Determining a Realistic Withdrawal Amount and Asset Allocation in Retirement >> Many people look forward to retirement, but it can be one of the most complicated stages of life from a financial planning
More informationGUIDE TO LONG-TERM CARE PLANNING USING 1035 EXCHANGES. merican ssociation for Long-Term Care Insurance
merican ssociation for Long-Term Care Insurance GUIDE TO LONG-TERM CARE PLANNING USING 1035 EXCHANGES A TAX-ADVANTAGED WAY TO REPURPOSE EXISTING ANNUITIES & LIFE INSURANCE 2018 EDITION Who Should Read
More informationInvestment Planning Throughout Retirement
Select Portfolio Management, Inc. David M. Jones, MBA Wealth Advisor 120 Vantis, Suite 430 Aliso Viejo, CA 92656 949-975-7900 dave.jones@selectportfolio.com www.selectportfolio.com Investment Planning
More informationOLD MUTUAL SUPERFUND PRESERVER
OLD MUTUAL SUPERFUND PRESERVER MEMBER GUIDE BEING A PRESERVER MEMBER SHOWS YOUR COMMITMENT TO YOUR FINANCIAL FUTURE! Preserver allows you to continue your Old Mutual SuperFund Membership, even though you
More informationA New Generation Retirement Strategy
A New Generation Retirement Strategy Today, Optimizing Retirement Income Requires an Increased Focus on Efficiency 8/13 80060-13A No bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not
More informationAbout Fred Bowie. Fred Bowie CEO Life & Retirement Guide Canada Retirement Information Centre
About Fred Bowie Fred Bowie CEO Life & Retirement Guide Canada Retirement Information Centre Since May 15, 1980 Fred Bowie and the Life & Retirement Guides at the Canada Retirement Information Centre have
More informationMYGAs. Multi-Year Guaranteed Annuities. Annuity Product Guides. A safe, guaranteed and tax-deferred way to grow your retirement savings
Annuity Product s MYGAs Multi-Year Guaranteed Annuities A safe, guaranteed and tax-deferred way to grow your retirement savings Modernizing retirement security through trust, transparency and by putting
More informationFor David and Janet Evans
For David and Janet Evans Presented by: Ross Mackereth ABC Financial Services Old Grammar School House, School Gardens Shrewsbury, Shropshire SY 2AJ Phone: 3 245 Mobile Phone: 797 445632 Fax: 3 23624 Email:
More informationSocial Security 76% 1. The choice of a lifetime. Your choice on when to file could increase your annual benefit by as much as
Social Security Guide NATIONWIDE RETIREMENT INSTITUTE Social Security The choice of a lifetime Your choice on when to file could increase your annual benefit by as much as 76% 1 1 Nationwide as of May
More informationPLANNING FOR THREE BIG RISKS TM IN RETIREMENT
An Investment Strategy with the Objective of Providing Inflation-Adjusted Income for Life. PLANNING FOR THREE BIG RISKS TM IN RETIREMENT TIMING RISK INFLATION RISK LONGEVITY RISK Copyright 2016 Wealth2k,
More informationenhanced annuities With Just, you may qualify for a higher guaranteed income for life, enabling you to do more in your retirement years.
enhanced annuities With Just, you may qualify for a higher guaranteed income for life, enabling you to do more in your retirement years. RETHINK RETIREMENT Just offers enhanced annuities to qualifying
More informationI m pleased to be here and to be debating an important topic in honour of Gordon.
Gordon Midgley Memorial Debate: Drawdown Will Eventually Replace Annuities, April 16, 2008 Against the Motion: Tom Boardman Slide 1 Good evening I m pleased to be here and to be debating an important topic
More informationSanlam Umbrella Fund Member guide to investment options in the Fund
Sanlam Umbrella Fund Member guide to investment options in the Fund Date issued May 2018 Table of Contents Overview 3 Trustee-approved investment strategies 4 1. Sanlam Lifestage 4 2. Volatility Protection
More informationGlacier Investment-Linked Living Annuity - Personal Portfolio Living Annuity
Glacier Investment-Linked Living Annuity - Personal Portfolio Living Annuity Background information... 2 The definition in the Income Tax Act... 2 Member-owned vs fund-owned... 3 Living annuity vs conventional
More informationHOW TO POTENTIALLY OPTIMIZE SOCIAL SECURITY BENEFITS
HOW TO POTENTIALLY OPTIMIZE SOCIAL SECURITY BENEFITS TABLE OF CONTENTS Executive Summary... 2 The Status of Social Security... 2 Timing Your Benefit Distributions... 3 A Look at Spousal Benefits Plan for
More informationUnderstanding fixed annuities
Allianz Life Insurance Company of North America Understanding fixed annuities Protection for your retirement money M-5210 Page 1 of 12 Page 2 of 12 It s time to rethink retirement. In recent years, the
More informationTable of Contents I. Annuities 2 A. Who... 2 B. What... 2 C. Where... 2 D. When... 3 Annuity Phases... 3 a) Immediate Annuity...
Table of Contents I. Annuities 2 A. Who... 2 B. What... 2 C. Where... 2 D. When... 3 Annuity Phases... 3 a) Immediate Annuity... 3 b) Deferred Annuity... 3 E. Why... 4 F. How do I put my money in?... 4
More informationRetirement Income Planning With Fixed Indexed Annuities. Your Relationship With Your Finances
Retirement Income Planning With Fixed Indexed Annuities Your Relationship With Your Finances There are some pretty amazing things that happen around the time of retirement. For many, it is a time of incredible
More informationManaging Retirement Security with an Income Advantage
Managing Retirement Security with an Income Advantage The VantageTrust Retirement IncomeAdvantage Fund 0185372-00001-00 As a plan sponsor, you want to make sure that your employees have the tools necessary
More informationAccount-based pensions: making your super go further in retirement
Booklet 3 Account-based pensions: making your super go further in retirement MAStech Smart technical solutions made simple Contents Introduction 01 Introduction 03 What are account-based pensions? 05 Investing
More informationNavigate your journey to and through retirement
Navigate your journey to and through retirement Voya Quest 7 Index Annuity A flexible premium deferred fixed index annuity with an optional guaranteed lifetime income rider issued by Voya Insurance and
More informationANNUITY BUYERS GUIDE. Does Your Retirement Have The Happy Factor?
ANNUITY Does Your Retirement Have The Happy Factor? PLUS ANSWSER TO: ROLLING OVER YOUR 401(K) OR IRA S, LEGACY PLANNING TRICKS, AND MUCH, MUCH MORE! xvfsf 2016 ANNUITY Our Mission: Our mission is to provide
More informationSmart Financial Strategies
Exploring your retirement possibilities. Smart Financial Strategies 01 Smart Financial Strategies Will you have enough? The changing face of retirement Increased life spans and earlier retirements are
More informationGlacier Investment-Linked Lifetime Income
Product description... 3 Product features... 3 Investor type... 3 Minimum age... 4 Product minimum... 4 Type of investments... 4 Product flexibility... 4 Source of funds... 6 Investment options... 6 Income...
More information2016 MDRT Annual Meeting e Handout Material. Don t Worry, Retire Happy! 7 Steps to Retirement Security
2016 MDRT Annual Meeting e Handout Material Title: Speaker: Don t Worry, Retire Happy! 7 Steps to Retirement Security Tom Hegna, CLU, ChFC Presentation Date: Tuesday, June 14, 2016 Presentation Time: 8:30
More informationRETIREMENT ISN T THE FINISH LINE... IT S THE STARTING LINE. Unified IncomePlan
RETIREMENT ISN T THE FINISH LINE... IT S THE STARTING LINE. Unified IncomePlan I ve spent my whole life planning for retirement and now I have a plan that gives me the confidence to enjoy retirement. YOUR
More informationSocial Security 76% 1. The choice of a lifetime. Your choice on when to file could increase your annual benefit by as much as
Social Security Guide NATIONWIDE RETIREMENT INSTITUTE SM Social Security The choice of a lifetime Your choice on when to file could increase your annual benefit by as much as 76% 1 1 Nationwide as of May
More information