Plan Today, Own Tomorrow Garry Thurman

Understand your monthly spending and /or monthly budget Have a proper handle on your monthly income sources Don’t forget about medical or health care cost Decide whether you are going to enlist the help of a financial professional Develop a written financial plan

Method #1- Systematic Withdrawal- Also know as the 4% withdrawal rule or “Goal-based” Method #2- Time-segmentation or “bucketing” Method #3- Income Flooring Method #4- Guaranteed Cash Flow planning  

Why can retirement be so stressful?

1. Focus on the big picture, not just potential returns
2. Consolidate your accounts
3. Broad diversification
4. Automate your income
5. Strip your investment strategy down
6. Go green-paperless
7. Can a “bucket plan” help you?

How much money do I need to retire? What is an RMD? How do taxes work with my social security and/or pension plan? How much could healthcare cost in retirement? When can I withdraw money from my retirement accounts?

Stock market downturn at the wrong time Not enough diversification Fear of uncertainty Not enough monthly income

What is an annuity? Immediate vs Deferred- the difference Does the beneficiary inherit your payment or your cash value? Do you have to annuitize your annuity to turn it into a income stream? Is there any insurance on the annuity or payment? How do the fees work? How do annuities earn interest? How does the insurance agent or financial advisor get paid for the annuity? Bonus!
Do insurance agents or financial advisor have multiple options for annuities they can use?