Income to maintain Al and Sarah's lifestyle will come from their investment portfolio. The portfolio contains income-generating products that will allow periodic withdrawals.
Al and Sarah
Al and Sarah are a couple with a stable financial situation. They are conservative, long-term planners who are nearing retirement.
|age||life stage||salary||total assets||occupation|
|Al is 63 and Sarah is 60||Planning for retirement in the near future||$400,000||$3,000,000||Internal Medicine Surgeon|
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.
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.
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.
Housing, food, healthcare, emergency fund.
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Maintain lifestyle, support for elderly parents, family vacation annually.
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 contributed to a fixed annuity during his working years. This will allow him to generate guaranteed lifetime income.
Al and Sarah's investment portfolio is composed of their assets from a brokerage account, IRAs and Al's 403(b) plan.
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.
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.
We can help you create a retirement income strategy that factors in your concerns, as well as your goals.
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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