The aggressive risk-takers

Frank and Pete

Frank and Pete are nearing retirement and they are financially limited. They are aggressive risk takers.
Age
Life Stage
Salary
Total Assets
Occupation
Frank is 66 and Pete is 60 Nearing Retirement $64,000 $300,000 Admissions Counselor
 
 
 

Situation

Frank and his life partner, Pete have been together for 23 years and got married last year in Pete’s hometown of Seattle.
 

Goal

Frank wants flexibility and is aggressive, he feels he needs to be in order to retire. He wants to make up for the losses he experienced in 2008.
 
 

Work

Frank is working for a university in Oregon, as an Admissions Counselor. It is his second career. Before his current role, he was an entrepreneur, but lost his business with the economic downturn of 2008. Pete is an artist and works on commission. He displays his work in various shops around town and sells 2-3 pieces each month.

Objectives

Frank prioritizes his retirement objectives as follows:

1
Wants to retire but not sure if he can or should
2
Values flexibility but does not want to outlive assets
3
Wants to be sure that Pete will be financially stable if he passes away first
Concerns

Retirement risks that are of greatest concern to Frank and Pete

Longevity Icon
Top concern

Longevity

Inflation Icon
Concern

Inflation

Frank and Pete's income plan

Frank and Pete have specific financial needs to address in order to be able to achieve their overall retirement goals. The following is an estimated amount of annual income* Frank and Pete believe they will need to achieve their retirement goals.

Basic needs

 
Housing, food, healthcare, emergency fund.
 
See how its covered
 
 
 

Lifestyle

 
Maintain lifestyle, gym memberships, support Pete's art.
 
See how its covered
 
$50k. $14k. Total: $64k/year
 

Legacy

 
Legacy is not important for them. Frank does like the idea of a contingency if times get rough. This buffer will be part of his investment allocation, and will be used as security in case Frank passes away first.
*Income needs in terms of after-tax income.

Frank and Pete's investment strategy

Variable annuity

Frank has some assets with TIAA-CREF and chooses to annuitize a portion of his CREF Stock balance because it will provide him with a lifetime income stream based on market returns.*
Read more
 
Investment Strategy
 

Investment portfolio

Frank and Pete are risk-takers by nature. They are comfortable with market fluctuation and want to be in “the game.”
Read more
 
Resulting income

Hypothetical income approximations to maintain $64,000 of annual income

Displayed in real dollars to show that income maintains the customer's buying power throughout retirement (30-35 years). The composition of income received in retirement is purely hypothetical, for illustrative purposes only.
Resulting Income Chart
Next Steps

How TIAA can help

Annuities

We can recommend annuity options that can help you pursue your retirement lifestyle.

Investment strategies

We can help you align your asset allocation with your long-term income needs.

Retirement income planning

We can help you create a retirement income strategy that factors in your concerns, as well as your goals.

Get in Touch

Talk with a TIAA Consultant to help you review your overall retirement strategy and to help you consider the next steps.
 

888-583-2535

 
Weekdays 8 a.m. to 10 p.m. (ET)
Saturday 9 a.m. to 6 p.m. (ET)
The Preparing for Retirement tool provides education about the retirement process, and includes examples based on a composite of random TIAA clients. You should not view or construe the tools and information as a suggestion by TIAA that you take or refrain from taking a particular course of action, as the advice or recommendation of an impartial fiduciary, or as an offer to sell or a solicitation to buy any securities or other investment property. In making the tools and information available to you, we assume that you are capable of evaluating the information and exercising independent judgment over your investments and do not need or intend to rely on our advice or recommendations. You should not buy or sell any security or other investment property without first considering whether it is appropriate for you based on your own particular situation based on your independent determination.  TIAA-CREF Individual & Institutional Services, LLC will not perform any suitability or other analysis to check, for example, whether a security or other investment property you select through this tool is consistent with your investment objectives. If you need or want advice or recommendations in choosing investments, please call us at 800-842-2252. We are here to help.
 
Annuities are designed for retirement and other long-term goals. Keep in mind that lifetime income from variable annuities will fluctuate based on the underlying investment performance. Any guarantees under annuities issued by TIAA, including TIAA Traditional, are subject to TIAA's claims paying ability. There are risks associated with investing in securities including possible loss of principal.
 
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877 518-9161 for current product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing.
 
Advisory services are provided by Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser.
121862f