For someone like Arthur with retirement right around the corner, because he signed up for Financial Engines® Income+, a feature of Professional Management, we would have begun transitioning his investment strategy from a focus on asset accumulation to asset protection.
As he gets closer to retirement, Financial Engines would make adjustments to the investments in his account and work with his plan provider to handle any necessary transactions. With quarterly Retirement Updates and access to an advisor representative, Professional Management with Income+ would help Arthur stay on top of it all.
Transitioning to retirement
He’s 62, married and looking forward to an active retirement. He’s planning to use his 401(k) for most of his retirement income and soon he’ll be ready to start payouts. Arthur’s been in Professional Management for a while so when he’s ready, payouts are a phone call away.
- Age:
- 62
- Occupation:
- Manufacturer’s Representative
- Investor style:
- Leave it to the professionals
For all investors
We believe everyone deserves expert retirement help.
- Adjust his retirement strategy
- Get a comprehensive Retirement Checkup
- Provide payouts when he’s ready
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Getting started
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Adjust his retirement strategy
Get a comprehensive Retirement Checkup
With retirement approaching, Arthur would receive an annual checkup with an advisor representative. This would help him get a better understanding of how likely he is to reach his goals based on his current investments, including investments beyond his retirement account, and Social Security. An advisor representative could help him weigh the potential financial impact of pushing his retirement out a few more years, or of working part time if necessary.
Provide payouts when he’s ready
Arthur is planning to leave his current job and retire at 65. That’s when he’ll need to begin receiving monthly payouts from his 401(k). When he is ready, all he needs to do is call an advisor representative and let them know that he’s ready to begin receiving monthly payouts. An advisor representative will help him estimate how much he will receive and when. He also knows that he can start, stop, or cancel payouts any time, without penalty.
The individuals pictured and described are not actual clients of Financial Engines, and they do not represent any actual client’s experience with Financial Engines. These stories are hypothetical and provided to illustrate how Financial Engines can help different types of people.