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Conservative and semi-retired

Pam and John

Pam and John are a couple with a stable financial situation. They are conservative, long-term planners who are semi-retired.
Age
Life Stage
Salary
Total Assets
Occupation
John is 68 and Pam is 61 Semi-retired $20,000 $1,000,000 English Literature Professor
 
 
 

Situation

Pam has been married for 35 years to her husband, John. John is a retired chef and he’s currently working on his first novel, a mystery about a disappearing pilot.
 

Family

Pam and John have one child, Stephen, a graphic designer in Austin, TX.
 
 

Goal

Pam is semi-retired and still teaches one course per semester on medieval poetry, a passion of hers. She’d like to continue to teach as long as she is able.
 

Lifestyle

They are both relatively healthy although Pam has some arthritis in her knees.

Objectives

Pam and John prioritize their retirement objectives as follows:

1
Concern about running out of money while in retirement.
2
Avoid market fluctuations in favor of stability.
Concerns

Retirement risks that are of greatest concern to Pam and John:

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Top concern

Withdrawal

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Concern

Longevity

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Concern

Inflation

Pam and John's income plan

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

Basic needs

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

 

Lifestyle

 
Maintain lifestyle, annual literary conference, and travel to visit their son.
 
See how its covered
 
 
$40k. $26k. Total: $66k
 

Legacy

 
Legacy is not a priority for Pam. Her son is financially stable on his own. She does get peace of mind knowing she has a buffer if times get rough. This buffer will be part of her investment allocation.
*Income needs in terms of after-tax income.

Pam and John's investment strategy

Fixed Annuity

Pam has been making contributions to her retirement plan since joining, and has savings in both a fixed annuity and a variable annuity.
Read more
 
 

Investment portfolio

Pam and John decide to move all of their remaining investment assets to a single provider so an advisor can manage their assets holistically throughout retirement. Their portfolio seeks to achieve growth above inflation, and it will generate dividend income from certain investments in their portfolio.
Read more
 
Resulting income

Hypothetical income approximations to maintain $66,000 of annual income

Displayed in real dollars to show how income maintains the customers' buying power throughout retirement (30-35 years). The composition of income received in retirement is purely hypothetical, for illustrative purposes only.
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

 
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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.
 
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