|Al is 63 and Sarah is 60||Planning for retirement in the near future||$400,000||$3,000,000||Internal Medicine Surgeon|
The long-term planners
Al and Sarah
Al and Sarah are a couple with a stable financial situation. They are conservative, long-term planners who are nearing retirement.
Al has been married to his wife Sarah for 28 years. She stayed home with the children and now volunteers.
Al and Sarah have three children, and four grandchildren. Maintaining close relationships with their grandchildren is extremely important to them.
Al and Sarah are nearing retirement and are looking for guaranteed, stable income.
They are both healthy and longevity runs in their family. In fact, Al and Sarah each have a parent still alive.
Al and Sarah prioritize their retirement objectives as follows:
Live comfortably in retirement and maximize their legacy.
Avoid market fluctuations that will negatively impact their lifestyle.
Ensure Sarah is financially secure if Al passes away first.
Retirement risks that are of greatest concern to Al and Sarah:
Al and Sarah's income plan
Al and Sarah have specific financial needs in order to be able to achieve their overall retirement goals. The following is an estimated amount of annual income* Al and Sarah believe they will need to achieve their retirement goals.
Leaving a large legacy to their children and grandchildren is a High Priority for Al and Sarah. That's why they elected a fixed annuity to receive a guaranteed benefit and have an investment allocation that will help maximize how much they will leave their children.
*Income needs in terms of after-tax income.
Al and Sarah's investment strategy
Hypothetical income approximations to maintain $150,000 of annual income
Displayed in real dollars to show 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.
How TIAA can help
We can recommend annuity options that can help you pursue your retirement lifestyle.
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.
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