Tell us your question and we'll get back to you within 24 hours.
Foregoing an annuity may increase income received in your first year of retirement but decrease total income received throughout all of retirement.
If you are married and you and your spouse are both 65, there is almost a 3 out of 4 chance that one of you will live to age 85 and almost 1 out of 2 chance at least one will live to 90.
Healthcare is very expensive in retirement. If you live until you are 90, your healthcare costs will likely exceed $220,000.
Seven out of 10 retirees will need some sort of long term care. One year in a nursing home could cost about $90,000, and one year of home health care is about half of that.
Financial shocks happen in retirement no differently than while working. The biggest difference, however, is that working income is no longer available. One in three retirees lose 25% of their assets due to financial shocks.
We all know the financial markets bear risk (Equity Risk). A subset of that risk is the possibility that your invested assets will decline substantively just as you retire. Just because the market falls, doesn’t mean you need less money. Votaire's "smoothing" method helps account for this.
This is just a start. Once we understand your personal risk factors and goals, we guide you to personalized strategies for how to address things like retiree healthcare, social security and planned giving.
- We first see how much money you have today and determine how much you will have in the future.
- We project your healthcare costs, your other expenses and your specific goals.
- Your “pot of money” is then spread out over the course of your lifetime to accommodate those known expenses and to give you the highest standard of living possible while maintaining a low risk of running out of money.
- We run Monte Carlo simulations to “stress-test” your retirement income under various inflation scenarios and longevity and sequence of returns outcomes.