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Today’s Economy:Life Stages Retirement Planning

Presented by

CIGNA Employee Assistance Program

and CLC Incorporated

Copyright 2008 CIGNA HealthCare – Confidential & Privileged – Not for Distribution

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Greg Porter

Mr. Porter is a CFP® (Certified Financial Planner), Certified Financial Educator, (CFEd®) and Certified Credit Counselor

He has over 19 years experience in the financial services industry

He has worked as a stockbroker, retirement analyst, and Vice-President with a registered investment advisory firm

He has a B.A.degree (Management), from California State University, Sonoma

Your Presenter

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Today’s Agenda

We will discuss the best things to do now to optimize retirement, whatever your age:

Unsettling Economy

Getting Started: 20s and 30s

Prime Time: 40’s and 50’s

Head for the Finish Line: 55 to 65

At Retirement

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Unsettling Economy

Your investments may be reflecting these very unsettled financial times

Stock markets sometimes move dramatically

If concerned about volatility, make sure your investments match your risk tolerance  

Your 401k-plan administrator should have tools available to match your risk tolerance with the investments available - take advantage of those 

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Retirement Planning Puzzle

Retirement planning involves fitting together many puzzle pieces to provide your ideal situation.

Mortgage

Moving

IRA

Annuities401(k)

Debt

College

InsuranceBudgeting

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Getting Started: 20s and 30s

Get ahead of the game

Eliminate debt

Contribute to employer retirement plan

Establish an IRA

Save part of any windfall cash received

Don’t cash out retirement plan if changing jobs

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Prime Time: 40’s and 50’s

Set goals regarding retirement lifestyle

Consider boosting mortgage payment for a “mortgage-free” retirement

Review/establish estate-planning

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Determine the Price of Potential Retirement Objectives

Maintain current standard of living

Learn a new skill or hobby

Purchase a 2nd home

Relocate

Travel and entertainment

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Ways to Retire Sooner Than Later

Reduce expenses and invest the savings

Invest aggressively (not carelessly)

Retire, but work part-time

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Head for the Finish Line: 55 to 65

Take inventory

Review life and homeowners insurance

Review retirement benefits you will receive from prior employers

Determine Social Security benefits

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Head for the Finish Line: 55 to 65

Develop a retirement budget – prior to retirement

Plan for medical expenses and long term care needs

Consider rollover strategies

Do tax planning around retirement goals

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When You Retire…

Make smart withdrawals

Factor minimum withdrawals (70½)

Factor effect of inflation on investments and withdrawals

Transfer monthly “paycheck” from liquid savings to aid retirement transition

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We hope you have gained a better understanding of what you can do now to optimize retirement.

It is our hope that you can use the information to feel more confident in making important financial decisions.

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The information presented is not to be a substitute for seeking advice specific to your situation from a legal or financial professional. If legal or financial advice is required, contact an attorney or financial advisor.

This presentation, and any handouts, were created and/or distributed by CLC Incorporated (CLC). The content hereof, together with any attachments, are subject to Federal and State Copyright and Trademark protections. This content may not be used, reproduced or distributed in any manner, in whole or in part, without the prior written consent of CLC Incorporated.