“Well, today people have to be self-reliant if they want to secure retirement income.” -Scott Cook-

Today, few employees will ever receive a guaranteed pension benefit. Over the last several decades, employers have sought to shift the burden of saving for retirement to the employee. With many Americans now in retirement and many more ready to depart the workforce, the topic of retirement income has never been more important.

Most retirees derive retirement income from several sources, including Social Security, Required Minimum Distributions from IRAs and Qualified Retirement Plans, distributions from Roth IRAs, and taxable investment portfolios. The allocation of these assets is determined by age, risk tolerance, consumption expectations, and desires to leave bequests to family members and charities.

The attached piece, prepared by Morningstar, outlines many of the aspects we consider when helping clients build a retirement income stream.

 

 

 

 

 

 

Scott Cook is the Co-Founder and former Chairman and CEO of Intuit