Retirement Research

MAXIMIZING RETIREMENT INCOME: READY TO HELP REPLACE YOUR PAYCHECK IN RETIREMENT? 48% of respondents said retirement means working part-time or that there's no such thing as retirement What's on the mind of pre-retirees when planning retirement income 76 MILLION BO0MERS ARE APPROACHING RETIREMENT (U.S. Census Data, 2008) WHAT PRE-RETIREES WANT TO DO MOST WITH THEIR RETIREMENT SAVINGS AND INVESTMENTS WHAT IS MOST DIFFICULT ABOUT RETIREMENT PLANNING 46% 40 20% 30 16% 20 10 45% 14% Allocating savings and investments to maximize Calculating the total amount of money Protect myself from inflation Receive a consis- Ensure a minimum retirementincome needed in reti rement portfolio performance regardless of how the market is doing tent amount of money each month 33% 64% Plan to have less than a year in cash at a time for living expenses Have not determined what their essential living expenses will be 26% FINANCIAL ACCOUNTS HEALTHCARE EXPENSES 12% 51% OF RESPONDENTS INDICATED THEY HAVE FOUR OR MOREFINANCIAL ACCOUNTS TWO-THIRDS Do not think Keeps them awake at night ARE NOT PREPARED TO USE ONE ACCOUNT about their health FROM WHICH TO WITHDRAW THEIR care expenses in RETIREMENT INCOME retirement IMPACT OF TAXES 25% OR MORE DO NOT EXPECT TO PAY TAXES ON RETIREMENT INCOME SOURCES RANGING FROM RETIREMENT 47 PERCENT ONE FOURTH ACCOUNT WITHDRAWALS TO Have not anticipated how much their taxes will impact their retirement income Have not thought about tax expenses at all SOCIAL SECURITY WHAT ABOUT A PROFESSIONAL ADVISOR? 52% 25% Have worked with a professional advisor to create a retirement income plan Would like professional financial advice determining how much money they will need in retirement charles SCHWAB Retirement Income Study by Charles Schwab, © 2011 Charles Schwab & Co., Inc. All rights reserved. Member SIPC