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HOW DOES PLANNING FIT INTO MY RETIREMENT?. A GOOD SPENDER… DEVELOPS GOOD SPENDING HABITS CREATES A BUDGET A GOOD SAVER… IS SAVING FOR A SPECIFIC GOAL.

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Presentation on theme: "HOW DOES PLANNING FIT INTO MY RETIREMENT?. A GOOD SPENDER… DEVELOPS GOOD SPENDING HABITS CREATES A BUDGET A GOOD SAVER… IS SAVING FOR A SPECIFIC GOAL."— Presentation transcript:

1 HOW DOES PLANNING FIT INTO MY RETIREMENT?

2 A GOOD SPENDER… DEVELOPS GOOD SPENDING HABITS CREATES A BUDGET A GOOD SAVER… IS SAVING FOR A SPECIFIC GOAL DOESN’T LOSE SIGHT OF THEIR GOALS A GOOD INVESTOR… UNDERSTANDS THE FIVE FUNDAMENTALS OF INVESTING KNOWS INVESTMENTS CAN’T REPLACE SAVINGS

3 BE A GOOD PLANNER GOALS SET your

4 BE A GOOD PLANNER A GOOD PLANNER… IDENTIFIES EXPENSES AND INCOME:

5 BE A GOOD PLANNER BUDGET WORKSHEET Where do I start?

6 BE A GOOD PLANNER $2,800 $1,200 ($4,000) $1,500 $3,000 ($1,000) BUDGET WORKSHEET

7 BE A GOOD PLANNER EXECUTE your PLAN - SPEND LESS ON THOSE EXTRA ITEMS $1,000 DEFICIT PER MONTH - SPEND FROM YOUR 401(K)

8 EXAMPLE 1 – STRAIGHT SPEND SPEND YOUR 401(K) $200,000 BALANCE IN 401(K) AT RETIREMENT - NEED $1,000 PER MONTH ($12,000 1ST YEAR) YEARBEG BALNEEDSREM BALEARNEND BAL 1200,00012,000188,0007,520195,520 2 12,240183,2807,331190,611 … 2015,74617,4820

9 EXAMPLE 1 – STRAIGHT SPEND YEARBEG BALNEEDSREM BALEARNEND BAL 1200,00012,000188,0007,520195,520 2 12,240183,2807,331190,611 3 12,485178,1267,125185,251 4 12,734172,5176,901179,418 5 12,989166,4286,657173,086 6 13,249159,8376,393166,230 7 13,514152,7166,109158,825 8 13,784145,0415,802150,842 9 14,060136,7825,471142,254 10142,25414,341127,9125,116133,029 11133,02914,628118,4014,736123,137 12123,13714,920108,2174,329112,545 13112,54515,21997,3263,893101,219 14101,21915,52385,6963,42889,124 1589,12415,83473,2902,93276,222 1676,22216,15060,0712,40362,474 1762,47416,47346,0011,84047,841 1847,84116,80331,0381,24232,279 1932,27917,13915,14160615,746 2015,74617,482(1,736)(69)(1,805)

10 EXAMPLE 2 SPEND YOUR 401(K) $200,000 BALANCE IN 401(K) AT RETIREMENT - NEED $1,000 PER MONTH ($12,000 1ST YEAR) - IN YEAR 10 (AGE 75), NEEDS REDUCED YEARBEG BALNEEDSREM BALEARNEND BAL 1200,00012,000188,0007,520195,520 10142,2549,000133,2545,330138,584 2088,30510,97177,3343,09380,427 288,51712,8540

11 EXAMPLE 2 YEARBEG BALNEEDSREM BALEARNEND BAL 1200,00012,000188,0007,520195,520 2 12,240183,2807,331190,611 3 12,485178,1267,125185,251 4 12,734172,5176,901179,418 5 12,989166,4286,657173,086 6 13,249159,8376,393166,230 7 13,514152,7166,109158,825 8 13,784145,0415,802150,842 9 14,060136,7825,471142,254 10142,2549,000133,2545,330138,584 11138,5849,180129,4045,176134,580 12134,5809,364125,2165,009130,225 13130,2259,551120,6744,827125,501 14125,5019,742115,7594,630120,389 15120,3899,937110,4534,418114,871 16114,87110,135104,7354,189108,925 17108,92510,33898,5873,943102,530 18102,53010,54591,9853,67995,665 1995,66510,75684,9093,39688,305 2088,30510,97177,3343,09380,427

12 PLANNING? What are you BE A GOOD PLANNER

13 AS OF TODAY BUDGETING FOR TOMORROW 401(K) CONTRIBUTIONS 401(K) INVESTMENTS BE A GOOD PLANNER

14 BEFORE RETIREMENT DETERMINE BUDGET SOCIAL SECURITY PREPARATION 401(K) DISTRIBUTION PREPARATION 0-18 MONTHS

15 RETIREMENT TREAT YOURSELF. YOU’VE EARNED IT. MONITOR DISTRIBUTIONS, TAXES AND INVESTMENTS UPDATE BUDGET BE A GOOD PLANNER

16 AFTER AGE 75 IF IT CAN BE AUTOMATED, AUTOMATE IT MINIMUM DISTRIBUTIONS (IRA/401(K)) UPDATE BUDGET DISTRIBUTION FROM 401(K) TO REFILL IRA BE A GOOD PLANNER

17 CONTACT ME: SCOTT WHITE / 316.383.1860 / scott.white@intrustbank.com


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