Preparing for retirement

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.

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.


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:

Top concern






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.

Basic needs

Housing, food, healthcare, emergency fund.


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Maintain lifestyle, support for elderly parents, family vacation annually.


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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

Fixed annuity

Al contributed to a fixed annuity during his working years. This will allow him to generate guaranteed lifetime income.



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Investment portfolio

Al and Sarah's investment portfolio is composed of their assets from a brokerage account, IRAs and Al's 403(b) plan.



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Resulting income

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.

Income plan
Next steps

How TIAA can help


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.

Weekdays, 8 a.m. − 10 p.m. (ET)

The Preparing for Retirement experience 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.

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