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Our Mission: Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York are the trusted authority in insured retirement.

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Presentation on theme: "Our Mission: Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York are the trusted authority in insured retirement."— Presentation transcript:

1 Our Mission: Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York are the trusted authority in insured retirement solutions for consumers working with a financial professional. ENT-913-N (R-10/2011) Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York Rethinking your Retirement [Name, title]

2 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 2 Retirement dream We are living longer, healthier lives Retirement is an opportunity to pursue hobbies, travel, visit with loved ones, etc. But, for many of us, the real retirement dream may be to be financially independent Need realistic retirement strategies to make that a reality

3 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 3 Retirement reality Procrastination today is common. Not often do we plan to fail, instead we fail to plan Other issues are given higher priorities Longer you wait, the harder to make up the difference Even a few years can make a big difference

4 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York YearStartAddInterest rateYear end value 1$40,000.00$200/month5%$44, $200/month5%$49, $200/month5%$54, $200/month5%$59, $200/month5%$64, $200/month5%$70, $200/month5%$76, $200/month5%$83, $200/month5%$89, $89,995.90$200/month5%$97, Never too early to start preparing for retirement This hypothetical example is shown for demonstration purposes only and doesnt represent any specific product or investment. These figures dont reflect taxes or product fees and expenses. Starting retirement savings early with $200/month additional savings at 5% per year over 10 years

5 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 5 Retirement reality Never too early to get started Withdrawal rates also important

6 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 6 Withdrawal rates are important This chart shows how long retirement savings may last at a 4%, 5%, 6%,and 8% annual year-end withdrawal rate. The chart is a hypothetical example and assumes $500,000 beginning balance in retirement, a 3% annual inflation rate, and a 6% annual rate of return, compounded monthly. This hypothetical example does not represent the performance of any specific investment product, taxes, or product fees. Rate of withdrawal $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100, % 6% 5% 4% This chart is for illustrative purposes only.

7 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 7 Agenda 1.Retirement today 2.Taking action 3.Refocus 4.Options 5.Putting it all together

8 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 8 1 Retirement today

9 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 9 Retirement landscape Recent market turmoil adding to the fears of running out of money Afraid to take action -Dont know where we are at in our retirement strategies -Are often afraid to find out Job losses a reality -Fear of losing job or have recently lost job Other needs take priority

10 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 10 Retirement today Refocus on your retirement strategies Walk through where you are at financially today Walk through where you want to be to have a reasonable retirement tomorrow Focus on what you can control

11 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 11 2 Taking action

12 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 12 Taking action 1. Save more now Why dont we save? -Its hard to do and includes unpleasant things like budgeting and doing without. However, it is often a necessity. Save regularly through a variety of sources (401k, etc.) Increasing savings now can mean less retirement income replacement needed later

13 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 13 Saving more now can reduce amount of additional income needed later $45,000 $5, (k) Pension 401(k) $16,000 $7,000 $10,000 74% Social Security TodayRetirement This hypothetical example is for illustrative purposes only. The retirement income totals are for demonstration purposes only.

14 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 14 Saving more now can reduce amount of additional income needed later 401(k) This hypothetical example is for illustrative purposes only. The income totals are for demonstration purposes only. The additional savings is based on a 5% distribution over 20 years. $45,000 $5, (k) Pension 401(k) $16,000 $7,000 $10,000 74% TodayRetirement Social Security $15,000 $42,000 $3,000 90% Assumes hypothetical 5% rate of distribution over 20 years

15 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 15 Taking action 2. Control debt 3. Working longer Pension delays Social Security delays 4. Look at options to protect a portion of your income

16 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 16 3 Refocus on what you can control

17 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 17 Refocusing REFOCUS on retirement expense strategies Focus on what you can control Help manage expenses -Survival income -Desired income

18 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 18 Refocusing on the levels of retirement expenses Three levels of retirement expenses Desired Expenses Legacy Survival Expenses to cover your most basic needs Lifestyle extras Funds remaining for your beneficiaries

19 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 19 Refocusing by reviewing sources of income REVIEW sources of income Help you gain control over sources by knowing where they are -Social Security -Defined Benefit plans -401(k)s Please keep in mind that your producer must be currently registered with a broker/dealer to recommend the liquidation of funds held in securities products, including those within an IRA or other retirement plan, for the purchase of an annuity.

20 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 20 Refocusing by reviewing sources of income Seven sources of retirement income Roth IRA Sources of Income Welfare or charity Nonqualified Assets (NQA) Traditional IRA Employer sponsored plans Social Security Continued employment The base Employer-sponsored plans Contributions and rollovers Tax-deferred/tax-free Mutual funds, CDs, stocks, bonds Phase into retirement gradually Not desirable

21 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 21 Refocusing on income protection strategies PROTECT a portion of your income Supplementing defined contribution pension plans Consider using annuities -More optional guarantees -Reliability of future income Guarantees are backed by the financial strength and claims paying ability of the issuing company.

22 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 22 4 Options

23 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 23 Options Start with a clean mental slate Rethink overall retirement strategies -Rethinking income in place of accumulation -You always have an asset base to work with

24 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 24 Options Refocus on additional retirement issues -Beneficiaries updated/correct -Legacy -Life insurance -In addition to the death benefit provided, some policies can guarantee replacement income if either primary wage earner dies -Health care and long term care

25 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 25 Options Retirement accumulation stage Retirement income stage Financial objective Have enough money to retire Asset allocation Portfolio allocation Time horizon Known to retirement

26 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York Options Retirement income stage Retirement accumulation stage Retirement income stage Financial objective Have enough money to retire Not outlive assets Asset allocation Portfolio allocation Withdrawal allocation Time horizon Known to retirement Unknown to date of death

27 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York Options Rethinking retirement strategies Retirement accumulation stage Retirement income stage Rethinking retirement strategies Rethinking retirement expenses Rethinking portfolio with longer-term goals Rethinking retirement annuities Financial objective Have enough money to retire Not outlive assets Asset allocation Portfolio allocation Withdrawal allocation Time horizon Known to retirement Unknown to date of death

28 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 28 The average health care cost for a couple retiring in 2010? 1 Options Health care and long term care We often look at our retirement strategies based on our current good health status Even with good health today, properly prepare for possible future health issues or health care needs of tomorrow $250,000 1 USAToday, Study: Retired couple will need $250,000 for health care, March, 25, 2010

29 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 29 5 Putting it all together

30 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 30 Putting it all together What if there are gaps between accumulation and income needs? Refocusing our retirement financial strategies

31 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 31 Putting it all together Five options for income/expense gaps Options Lower your expectations Spend less and save more now Decide to work longer Take on more risk Combination (or all) of above Roth IRA Sources of Income Welfare or charity Nonqualified assets (NQA) Traditional IRA Employer sponsored plans Social Security Continued employment Desired Expenses Legacy Survival

32 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 32 Putting it all together How do the 5 options work? $ needed to supplement income $ now (401(k)) $ additional (401(k)) $ more 70? Conservative Moderate Aggressive Combination of all options Current standard of living Age Retirement Time This example is shown for illustrative purposes only and is not intended to predict or project future results. Your actual results will vary. Please note that with the potential for greater returns comes greater risk and volatility.

33 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 33 Putting it all together Current standard of living Combination most effective Age $ needed to supplement income $ additional (401(k)) $ more 65 68? Conservative Moderate Time This example is shown for illustrative purposes only and is not intended to predict or project future results. Your actual results will vary. Please note that with the potential for greater returns comes greater risk and volatility.

34 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 34 Rethinking retirement strategies Rethink your retirement strategies Refocus on what you can control -Use the strategic workbook Review your existing retirement strategies Protect your retirement future

35 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 35 Summary 1.Retirement today 2.Taking action 3.Refocus 4.Options 5.Putting it all together

36 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 36 Wrap up This presentation is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York, their affiliated companies, and their representatives and employees do not give legal or tax advice. Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Variable annuity guarantees do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions. Purchasing an annuity within a retirement plan that provides tax deferral under sections of the Internal Revenue Code results in no additional tax benefit. An annuity should be used to fund a qualified plan based upon the annuitys features other than tax deferral. All annuity features, risks, limitations and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan. Not FDIC insured May lose value No bank or credit union guarantee Not a deposit Not insured by any federal government agency or NCUA/NCUSIF Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN In New York, products are issued by Allianz Life Insurance Company of New York, One Chase Manhattan Plaza, 38 th Floor, New York, NY Variable products are distributed by their affiliate Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN Only Allianz Life Insurance Company of New York is authorized to offer annuities and life insurance in the state of New York.

37 Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York 37 Thank you! Questions?


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