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									   Basic Retirement Financial
     Planning Workshops
     Part 4: Retirement
    Decision Time Gates
           A presentation from

Army Community Service (ACS)
       Rock Island Arsenal
     Edition of September, 7 2004
           Basic Retirement Financial Planning-   1
                    Part 4 - ACS RIA
       Jon Cook, PHR, AFC
          Financial Readiness Program
                  Contractor for
            Army Community Service
          ATTN: AMSTA-RI-CF-ACS
     Building 110, 1st Floor, Southeast Wing
         U.S. Army Rock Island Arsenal
           Rock Island, IL 61299-5000
(309) 782-0829 e-mail: cookj2@ria.army.mil
    see RIA email public folder ERC INFO
www. riamwr. com / acsnew. htm
             Basic Retirement Financial Planning-   2
                      Part 4 - ACS RIA
        Basic Retirement Financial
          Planning Workshops

• Part 1: Plan Your Use of Available Time
• Part 2: Retirement Requirements Planning

• Part 3: Retirement Capabilities Planning


• Part 4: Retirement Decision Time-gates

                   Basic Retirement Financial Planning-   3
                            Part 4 - ACS RIA
         Sequence of this presentation
   Part 4: Retirement Decision Time-gates


• Introduction and purpose
• Brief review of previous sessions
• Your decisions and time gates:
     before, during and after retirement
• Closing, and request for class critiques



               Basic Retirement Financial Planning-   4
                        Part 4 - ACS RIA
                             Purpose
To get you started or to continue your retirement planning
explorations, discussions and decisions for yourself and in
coordination with your family members, significant others and
your advisors and coaches.

                           Scope and Limitations
• Each person and family is unique – basic methods and factors need to be
adapted to each.
• The class is “basic” and regards “financial” aspects; retirement is complex
and made up of many factors: wealth accumulation, debt, risk management
and insurances, health care, long term care, tax planning, and estate planning
(to name a few).
• Make no immediate decisions and seek advice and consent of other involved
people (family members and advisors).

                         Basic Retirement Financial Planning-               5
                                  Part 4 - ACS RIA
        A gentle reminder …
• Past performance is NO guarantee of future
  performance.
• Forecasting financial instruments’ future
  value is an estimate – not a guarantee.
• Tax Laws?
• Social Security?
• Inflation?
• Market Performance over time ???

              Basic Retirement Financial Planning-   6
                       Part 4 - ACS RIA
 Retirement Capabilities
MS Excel (.xls) Work Sheet

                                    Income

                            Expenses*
                        (carried over from
                           previous .xls
                           work sheet)



                                             Your results
                                              over time
    Basic Retirement Financial Planning-                    7
             Part 4 - ACS RIA
Are your requirements and capabilities balanced?


Do your capabilities exceed your requirements?


Do your requirements exceed your capabilities?
What do you see as your next
  options and decisions?
                 Basic Retirement Financial Planning-   8
                          Part 4 - ACS RIA
3 Planning Questions
1. Where are we going?
2. Where are we now?
3. How are we going to get there?


          Basic Retirement Financial Planning-   9
                   Part 4 - ACS RIA
             Basic, Financial Retirement Planning

              Decisions and Time Gates
• Basic Concepts
 (Income & Growth; Buyers & Sellers; Dollar Cost Averaging; Market Cycles)

• Before Retirement
   • Way Before
   • Getting Closer
   • Just Before
• Seeking More Assistance

                        Basic Retirement Financial Planning-          10
                                 Part 4 - ACS RIA
            Basic, Financial Retirement Planning

             Decisions and Time Gates
         Basic Concepts: Income and Growth
           Ownership                 “Loanership”
                                                      Repayment of Principal
                Dividends
                                                           with Interest
Income     (1099-DIV & Scdl B)
                                                       (1099-INT & Scdl B)
          Stock; Mutual Fund; TSP F & C
                                                   Savings Acct; Savings Bond; TSP G & F

         Capital Gains or Losses 
Growth     from buying & selling
                                                                      Taxable Accounts
                                                                Retirement Accounts (1099-R)
                                                                      Employer Based
             (1099-B & Scdl D)                                        401k; 503b; TSP
         Stock, bond, mutual fund, collectibles;                        CSRS – FERS
                                                                   IRAs (Traditional – Roth)
                     TSP F, C, S, I
                         Basic Retirement Financial Planning-                                  11
                                  Part 4 - ACS RIA
                                                           Handout p. 7
 Pyramid of Risk
                           Collectibles and
                           venture capital                  Growth


                        Stock
                  Preferred Stock
                  Mutual Funds

 Income      Bonds and CD’s

          Cash, Checking, Savings
Financial Plans                                       Insurance
               Basic Retirement Financial Planning-                 12
                        Part 4 - ACS RIA
            Basic, Financial Retirement Planning

             Decisions and Time Gates
          Basic Concepts: Income and Growth
            Ownership                 “Loanership”
                                                      Repayment of Principal
                Dividends
Income     (1099-DIV & Scdl B)                              Lower Risk
                                                           with Interest
                                                            Less & Scdl B)
                                                       (1099-INTFluctuations
          Stock; Mutual Fund; TSP F & C
                                                                  Lower Growth
                                                   Savings Acct; Savings Bond; TSP G & F
                                                                    Potential
       Capital Gains or Losses 
Growth from buying & selling (1099-                             Higher Risk
               B & Scdl D)                                      More Fluctuations
         Stock, bond, mutual fund, collectibles;                 Higher Growth
                     TSP F, C, S, I
                                                                    Potential
                         Basic Retirement Financial Planning-                    13
                                  Part 4 - ACS RIA
Past Performance is NOT      Thrift Savings Plan
  a guarantee of future
      performance!
                             www. tsp. gov
          Table on Historical Rates of Return




           G:                F:                     C:            S:       I:
                          Basic Retirement Financial Planning-            14
         6.04%            6.95% 4 - ACS10.99%
                                   Part        RIA               9.7%   4.32%
  Thrift Savings Plan

  www. tsp. gov
       Graph

G Fund = Treasuries
F Fund = Bonds
C Fund = S&P 500 Index
S Fund = Small Cap Index
I Fund = Intn’l Index

                        Basic Retirement Financial Planning-   15
                                 Part 4 - ACS RIA
                                       “Real” vice
 “A capital gain is only                “Paper”
                                                      Buyers and Sellers
 ‘realized’ after you sell…”           Gains and
                                         Losses

         The Market price rises to
           $10 a share – How
         much have you made?
                                                        The Market price rises to
Market                                                  $25 a share and you sell
Price                                                   – How much have you
                                                              made now?
                                            The Market price drops
                                             to $2 a share – How
   You buy                                  much have you lost?
  your shares
   at $5 per             Time
     share
                       Basic Retirement Financial Planning-                 16
                                Part 4 - ACS RIA
          Basic, Financial Retirement Planning

           Decisions and Time Gates
                  Basic Concepts
     Dollar   Cost Averaging (into the market)
A statistically proven method to optimize your purchasing
for income and growth
Consistently buying shares on a periodic basis (e.g. every
pay day) for the same amount over a long period of time
When the market is down, your dollars buy more shares …
When the market is up, your dollars buy less shares …
You are purchasing consistently, getting what you can
with what you have in a fluctuating market
                   Basic Retirement Financial Planning-   17
                            Part 4 - ACS RIA
 Dollar Cost Averaging                                    $100 at                   When did
                                                        $10/share =               you buy the
                                                         10 shares
                                  $100 at
                                                          (=105)                  least shares?
              $100 at           $10/share =
            $5/share =
                                 10 shares
          20 shares (=20)          (=90)                                              Sold 108
                                                                                      shares @
                                                                                     $30/share =
Market                                                                                 $3,240
                                                                     $100 at
Price                                                              $33/share =
                                                                    3 shares
                                                                                       $700
                                                                     (=108)         investment
            $100 at                                                                   yields
          $10/share =                            $100 at
           10 shares                          $20/share =                             $3,240
             (=30)                           5 shares (=95)

                                                                                 OK, Buyers?
                                                                                 What is your
          $100 at
                              Time When did you buy                              tolerance for
         $2/share =
                                                                                   risk in a
         50 shares                 the most shares?                                  down
           (=80)
                            Basic Retirement Financial Planning-                   market? 18
                                     Part 4 - ACS RIA
Thrift Savings Plan

www. tsp. gov
    Graph


   What is your $
     Personality?
  How do you view
   the volatility??



                      Basic Retirement Financial Planning-   19
                               Part 4 - ACS RIA
What is your style for saving and investing?
- Significant Other’s style?

    Conservative                                      Aggressive

   Income                                            Growth
                   Index Investing                     Managed Investing
  Your style                   Value                               Your
   Money                (only buy if value is                      Needs
   Rascal
                          temporarily low)
 Your partner’s                 Your                            Your
     style                  Tolerance for                       TIME
 Money Rascal                   RISK
                    Basic Retirement Financial Planning-                   20
                             Part 4 - ACS RIA
                 Retirement Planning Decisions

Annuities and Annuity-like instruments = Allowances
• CSRS; FERS; Military; Social Security
   • Formulas based on TIME of service, age and pay
• Contract purchased through an insurance company (e.g. Met Life)


  “They” are in control
                                           Will the steady-stream
  • Formula                                allowance meet your
  • $ Payout                                   requirements?
                                      Cost increases
                                      Special events
  • COLA
                                      Emergencies


                       Basic Retirement Financial Planning-         21
                                Part 4 - ACS RIA
                        Retirement Planning Decisions
TSP, IRA’s, Other Employer’s 401k/503b Retirement Accounts
Retirement “Money Piles” = what, how and when to cash out ??
Depends on your purpose at retirement …
• Need the money all or part at once
     (buy annuity, roll to IRA, purchases)
     • Dollar cost average out the $ from the “growth cups” to the “holding cups”
        [Holding Cups depend on your style: TSP - G F C ]
• Deferring until later (up to 70 ½ )
     • Let it still grow [Growing Cups depend on your style: TSP - F C S I ]
• Annuitizing the money out at your pace and control
    (within the limits of the open seasons) = combination of the above
     • Dollar cost average out what $ is needed for a few years of withdrawals
     • Let the rest grow
     • Periodically shift money from the growing cups to the holding cups
                                 Basic Retirement Financial Planning-               22
                                          Part 4 - ACS RIA
• If you have retirement money is in a “growing tank” …
• And you desire to “cash out” the funds to use them …
• Do you?
   • Cash out all at once?
          When? Which Day/Hour?
      • What are the market factors that day?
          Up? Down?
   • Cash out over time?
        HOW MUCH??
        WHEN??
                  Basic Retirement Financial Planning-   23
                           Part 4 - ACS RIA
 “What is the market’s next move? Buyers and Sellers




Market
Price                   ?




                     Time

                   Basic Retirement Financial Planning-   24
                            Part 4 - ACS RIA
 “What is the market’s next move? Buyers and Sellers




Market
Price                                         ?




                     Time

                   Basic Retirement Financial Planning-   25
                            Part 4 - ACS RIA
 “What is the market’s next move? Buyers and Sellers




                                                          ?
Market
Price




                     Time

                   Basic Retirement Financial Planning-       26
                            Part 4 - ACS RIA
            Basic, Financial Retirement Planning

             Decisions and Time Gates
Basic Concepts:    Market Cycles
 If you can predict the Market Cycles (periodic up’s and down’s) –
 YOU ARE SUPERHUMAN AND IN THE WRONG BUSINESS
               Become an Investment Broker!!
• Statistically since 1929 there has been a major up and down every
7 to 5 years …
• When during the 5 – 7 year cycle will it be up or down?
• Who knows? … Guessing / Estimating / Calculating
    = Market Timing (which may not work for you…)
• That is why we “dollar cost average into the market over time”
                       Basic Retirement Financial Planning-    27
                                Part 4 - ACS RIA
          Basic, Financial Retirement Planning

           Decisions and Time Gates
Basic Concepts:   Market Cycles
    • You do not time the market …
    • You time yourself !
    • Your Time Line !
•You dollar cost average your way into the
market …
• And – you dollar cost average your way
out of the market, too !
                   Basic Retirement Financial Planning-   28
                            Part 4 - ACS RIA
 “Dollar Cost Average”             You are a Buyer and a Seller
       In & OUT
                                                           Retirement
                                                             20__



Market                                                    Selling and
Price                                                       shifting
                          Buying                             phase
                      “accumulating”
                          phase



                     Time

                   Basic Retirement Financial Planning-                 29
                            Part 4 - ACS RIA
                             Market Fluctuations
                         rises and falls = volatility

Volatility                      S Fund
over time                                        I Fund
 Higher      Growing
              Cups              C Fund

                             F Fund

             Holding         G Fund
 Lower
              Cups
                Basic Retirement Financial Planning-      30
                         Part 4 - ACS RIA
                     Shifting Between Funds
                      as you near Retirement


                            S Fund
                                             I Fund
          Growing
           Cups             C Fund

                         F Fund
Holding                  G Fund
 Cups

            Basic Retirement Financial Planning-      31
                     Part 4 - ACS RIA
                        Dollar Cost Averaging
                 Shifting Money Between Accounts
• 5 Years until retirement
• Desire to move a portion of the TSP money from the
   “growth cups” (C, S, I) to a “holding cup” (G)
• How many open seasons between now and retirement?
    5 years x 2 opens seasons = 10 opportunities
• Total $ to be moved divided by number of open seasons
    = $ portion to be moved in a season
           $80,000 / 10 = $8,000 per season
• Can modify the simple math –
     sense the market; seek advice; adjust

                      Basic Retirement Financial Planning-   32
                               Part 4 - ACS RIA
              Basic, Financial Retirement Planning

               Decisions and Time Gates
• Basic Concepts
 (Income & Growth; Buyers & Sellers; Dollar Cost Averaging; Market Cycles)


• Before       Retirement
    • Way Before
    • Getting Closer
    • Just Before
• Seeking More Assistance

                            Basic Retirement Financial Planning-      33
                                     Part 4 - ACS RIA
            Basic, Financial Retirement Planning

             Decisions and Time Gates
Way Before (accumulation phase)
   • Capture TIME = Doubling Periods (Rule of 72!)
   • Money Personality
   • Forecast Requirements and Capabilities -
     Decide if your amounts and styles will meet
     your retirement goals > $ Allowances & $ Piles
   • Insurances: Life, Health, Dental, Long Term Care
   • Make adjustments and use options that make
     sense to you based upon your needs, style and time
   • Seek advice and think (as you desire)
                       Basic Retirement Financial Planning-   34
                                Part 4 - ACS RIA
             Basic, Financial Retirement Planning

                 Decisions and Time Gates
Getting Closer
   • Provided and desired funding means:
       • Annuities (Allowances: CSRS, FERS,
          Soc Sec, Mil, Commercial)
       • Piles (cash outs and annuitizing: IRA, 401k, TSP)
   • 5 to 7 Years (or a time-frame of your choice)
   • Sense the market and yourself
   • Adjust and shift (dollar cost average out) retirement assets to
   match your retirement financial needs (cash out all at once; defer;
   combination for annuitizing; other)
   • Seek advice and think (as you desire)
                       Basic Retirement Financial Planning-      35
                                Part 4 - ACS RIA
 “Dollar Cost Average”             You are a Buyer and a Seller
       In & OUT
                                                          Retirement
                                                            20__



Market                                                    Shifting
Price                                                      phase
                          Buying
                      “accumulating”
                          phase                             Roll-over
                                                            Annuities
                                                               SBP
                                                            Insurance
                     Time                                  Annuitizing

                   Basic Retirement Financial Planning-                36
                            Part 4 - ACS RIA
           Basic, Financial Retirement Planning

            Decisions and Time Gates

During the Retirement Transition
• Execute your transition plans


After Retirement (the first, second, and third …)
• The Boomers are re-engineering and re-defining
    retirement – what is your holistic retirement concept?
• Make your decisions on funds in growth …
                    Basic Retirement Financial Planning-   37
                             Part 4 - ACS RIA
                     Retirement
                                                                         ?


                        Adjusting
                         Phase
                                                      Managing Growth
                                                        and Income
                                                      during retirement
Accumulation
   Phase



               Basic Retirement Financial Planning-                 38
                        Part 4 - ACS RIA
              Basic, Financial Retirement Planning

          Seeking Advice and Assistance                                         Ref’s
    If you want to know about the road ahead …                                  p. 8

           ask someone who is coming from that direction.
                   Review of the References
• National Association of Retired Federal Employees (NARFE)        Your retiree
                                                                    network
• CPAC and partnering unions
• American Savings Education Council (ASEC)
     and the “Ballpark Estimate” www. asec. org / ballpark /             ACS
• Army Benefits Center (ABC) https:// www. abc. army. mil         • Appointments
• Thrift Savings Plan (TSP) www. tsp. gov                         • Library & E-Pubs
• Social Security Administration (SSA) www. ssa. gov              • Software
• Certified Financial Planners (CFP) www. cfp. net                (Fed EE News Digest)
• The National Association of Personal Financial Advisors –
      Fee Only Advisors - www. napfa. org                         • Referrals
                           Basic Retirement Financial Planning-                 39
                                    Part 4 - ACS RIA
Certified Financial Planners – CFP

       www. cfp. net
                                                   Various
                                                    fee
                                                 structures
                                                 • Buy
                                                 financial
                                                 products
                                                 • Hourly
                                                 • Flat Fee




          Basic Retirement Financial Planning-         40
                   Part 4 - ACS RIA
                                                     How to Choose a
                                                      Financial Advisor
                                                      a list of interview
                                                   questions for comparison
                                                           shopping!




     The National
Association of Personal
  Financial Advisors
 - Fee Only Advisors -

www. napfa. org
                   Basic Retirement Financial Planning-                41
                            Part 4 - ACS RIA
         Interest Vision                    commercial software
             Calculators for individuals and families
             Broderbund ( www. broderbund. com )




  Fill the known
amounts and it will                                           ?
   tell you the
 unknown factor
                      Basic Retirement Financial Planning-        42
                               Part 4 - ACS RIA
                                 Calculator &
                                 E-Pamphlets
                                  (as Adobe
                                   Acrobat
                                 Reader .pdf)
                                    at ACS
Basic Retirement Financial Planning-            43
         Part 4 - ACS RIA
          The Best Book on
    Personal Financial Management


The Truth About Money
            by Ric Edelman
                        See www. ricedelman. com

  Basic Retirement Financial Planning-         44
           Part 4 - ACS RIA
      Basic Retirement Financial
        Planning Workshops
 Part 1: Plan Your Use of Available Time
 Part 2: Retirement Requirements Planning
 Part 3: Retirement Capabilities Planning
 Part 4: Retirement Decision Time-gates


               Basic Retirement Financial Planning-   45
                        Part 4 - ACS RIA
      Cautionary Note 

Do not let me talk you into or out
       of anything today!
 Wait - Consider - Consult.
        “Sleeping on it.”
            Decide.

          Basic Retirement Financial Planning-   46
                   Part 4 - ACS RIA
              Objective Setting:
Objective Statement Components
• basic questions (interrogatives)
   – Who
   – What (positively stated in the past tense)
   – Where
   – Why
   – How Much
   – By when
   – How well
• State your BIG Picture of the end product = vision
                  Basic Retirement Financial Planning-   47
                           Part 4 - ACS RIA
                            Objective Setting:
                     Objective Statement Components
• basic questions (interrogatives)
   – Who:    I
   – What:   completed my retirement financial plan
   – Where:      on my MS Excel (.xls) Work Sheet
   – Why:    in order to better plan for retirement
   – How Much:by listing my time line, requirements, capabilities,
     and decision time gates
            at the end of the month (and updated at least
   – By when:
     annually)
             so that I can coordinate retirement planning
   – How well:
     actions with my family, significant others and advisors.
                          Basic Retirement Financial Planning-   48
                                   Part 4 - ACS RIA
                    Family               Money


           Spouse                                      Work


       Self                 Principles            Possessions


           Church                                 Pleasure

                    Enemy                Friend

Covey, S. (1989). The 7 Habits of Highly Effective People.
 NY: Fireside. p. 125; pp. 109-128 and Appendix A.
                Basic Retirement Financial Planning-            49
                         Part 4 - ACS RIA
                  Mental               Physical
                   Health              Health


         Social                                   Spiritual
                           Finances
                                  $
          Exercise                                    Diet



                  Personal         Intellectual

Stein, M. (1998). Prosperous Retirement. Boulder, CO:
   EMSTCO Press. p. 19.
               Basic Retirement Financial Planning-           50
                        Part 4 - ACS RIA
Other Questions?
 And hopefully
 good answers ...
    Basic Retirement Financial Planning-   51
             Part 4 - ACS RIA
Basic Retirement Financial Planning-   52
         Part 4 - ACS RIA
Basic Retirement Financial Planning-   53
         Part 4 - ACS RIA
        The Money Rascals ©
• Susan Zimmerman, M.A., ChFC, CLU
• Changing troublesome money habits from the
  inside out.
• The Assessment and its (limited) uses
              The 8 Money Rascals
   • Flashers                              • Bashers

   • Rashers                               • Ashers
   • Clashers                              • Cashers
   • Dashers                               • Stashers
                Basic Retirement Financial Planning-    54
                         Part 4 - ACS RIA
                 Thrift Savings Plan (TSP)
• Government “401k plan”
• Set of 5 “mutual funds” sponsored by the Office of Personnel Management (OPM)
and managed by a contractor (currently – Barclays):
•• Government Securities Investment (G) Fund: short-term, non-marketable US Holding
Treasury securities.                                                         Cups
•• Fixed Income Index Investment (F) Fund: Barclays US Debt Index Fund, a
commingled bond index designed as close as possible to the Lehman Brothers
Aggregate (LBA) Index.
•• Common Stock Index Investment (C) Fund: Barclays Equity Index Fund,
which is designed to track as close as possible the performance of the Standard
and Poor’s (S&P) 500 index.
•• Small Capitalization Stock Index Investment (S) Fund: midsize and small
company stock fund. The objective of the S Fund is to track the returns of the
Wilshire 4500 stock index.
•• International Stock Index Investment (I) Fund: tracks the returns of the       Growing
Morgan Stanley Capital International EAFE (Europe, Australasia, Far East)          Cups
stock index.
                              Basic Retirement Financial Planning-                55
                                       Part 4 - ACS RIA
          Basic, Financial Retirement Planning

A brief review of the previous 3 sessions
• Concepts: 72! Wealth! Net Worth Statement
• Pyramid of Risk (saving and investing options)
• Forecasting (and use of PowerSave Software)
   • Time Line
   • Requirements
   • Capabilities
• Where are we now??
    OK?      Great!?                  Oh-Oh 
                    Basic Retirement Financial Planning-   56
                             Part 4 - ACS RIA
      The 3 Components of the
       Time Value of Money

                Time
 %
    APR                           Money
The Rule of 72 and its three uses
 How to estimate Doubling Periods!
          Basic Retirement Financial Planning-   57
                   Part 4 - ACS RIA
Remember …
 in emergencies,
                                  We pour our
 during transitions             asset wealth into
 for large purchases            our income funnel
 for retirement
              $ Asset Wealth $

                                                       You
                                                       need
                                                      BOTH!
                                       - Expenses
               Basic Retirement Financial Planning-           58
                        Part 4 - ACS RIA
 Your NET WORTH Statement
Cups! The money you get to keep!


             Your financial control document to
             “keep visible – inside the circle” your
             money that you are keeping…


             Your income “streams” and “$ piles”




        Basic Retirement Financial Planning-     59
                 Part 4 - ACS RIA
 Pyramid of Risk
                          Collectibles and
                          venture capital

                       Stock
                  Preferred Stock
                  Mutual Funds

            Bonds and CD’s

       Cash, Checking, Savings
Financial Plans                                      Insurance
              Basic Retirement Financial Planning-               60
                       Part 4 - ACS RIA
                  Thrift Savings Plan (TSP)
• Government “401k plan”
• Set of 5 “mutual funds” sponsored by the Office of Personnel Management (OPM)
and managed by a contractor (currently – Barclays):
•• Government Securities Investment (G) Fund: short-term, non-marketable US            Holding
Treasury securities.                                                                    Cups
•• Fixed Income Index Investment (F) Fund: Barclays US Debt Index Fund, a
commingled bond index designed as close as possible to the Lehman Brothers
Aggregate (LBA) Index.
•• Common Stock Index Investment (C) Fund: Barclays Equity Index Fund, which is
designed to track as close as possible the performance of the Standard and Poor’s
(S&P) 500 index.
•• Small Capitalization Stock Index Investment (S) Fund: midsize and small company
stock fund. The objective of the S Fund is to track the returns of the Wilshire 4500
stock index.
•• International Stock Index Investment (I) Fund: tracks the returns of the Morgan     Growing
Stanley Capital International EAFE (Europe, Australasia, Far East) stock index.         Cups
                               Basic Retirement Financial Planning-                    61
                                        Part 4 - ACS RIA
   Forecasting in the
   Planning Process
Schermerhorn (2005, p. 198)

 Forecasting:
 attempts to predict
 the future.
        Basic Retirement Financial Planning-   62
                 Part 4 - ACS RIA
     $134,000
       after
     inflation
Annuitized
 pay-outs        Basic Retirement Financial Planning-   63
                          Part 4 - ACS RIA
                                        Building Your Time Line
                               Paper or MS Excel (.xls) work sheet




 Lay out your
Person(s)
Dates
Ages
Retirement options
& time frames
Financial
obligations and
options

                     Basic Retirement Financial Planning-         64
                              Part 4 - ACS RIA
                    Retirement Requirements
                    MS Excel (.xls) Work Sheet


  Annual
Budget over
the phases
     of
retirement
• Go – Go
• Go-Slow
• No-Go
• Estate Planning
                        Basic Retirement Financial Planning-   65
                                 Part 4 - ACS RIA

								
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