Building a nest egg
She recently turned 47 and even though she doesn't plan on retiring until at least 65, Amanda knows her retirement account needs attention. But between working full time, raising a family, and coaching her daughter's soccer team, there's no time to focus. And, when it comes to putting a plan together for her account, she doesn't even know where to start.
- Age:
- 47
- Occupation:
- Customer Service Manager
- Investor style:
- Leave it to the professionals
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Getting started
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Evaluate her current situation
We would start by helping her understand how much her current savings could provide in retirement, how a different mix of investments might yield higher returns, and how making changes might improve her financial outlook. By knowing exactly where she stands today, Amanda can make more informed decisions about her future.
Build and implement a personalized plan
Based upon her personal situation, Financial Engines would build a retirement plan for Amanda with investment, savings, and retirement income strategies. We would analyze her portfolio and investment fund options, and explore the impact of risk, retirement age, contributions, and diversification. This plan would also include specific recommendations related to her investment mix and savings rate.
With Professional Management, Financial Engines would request all the necessary transactions to put this strategy into action. This is ideal for Amanda, who doesn't have the time to research these decisions herself, or the desire to make financial transactions on her own.
With Professional Management, Financial Engines would request all the necessary transactions to put this strategy into action. This is ideal for Amanda, who doesn't have the time to research these decisions herself, or the desire to make financial transactions on her own.
Monitor the plan
Financial Engines would continue to play an active role in monitoring Amanda's retirement account, making adjustments as needed. We would look at her risk profile as she gets closer to retirement. We would consider the effect of any changes in fund performance, investment style, fees, or risk. We would analyze the effect of any changes in her plan's investment line-up, and review how the broader economy might impact her investments. And we would schedule an in-depth check-up consultation when she turns 50.
That means that Amanda wouldn't have to worry about staying on track because Financial Engines would be doing the work for her.
That means that Amanda wouldn't have to worry about staying on track because Financial Engines would be doing the work for her.
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.