1. Staying the Course: Reacting to the current financial climate
Location – Date
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED WHEN APPROVED TO SELL ILIAC or RLIC PRODUCTS.
Insurance products, annuities, and retirement plan funding issued by (third party administrative services may also be provided by) ING Life Insurance and Annuity Company (Windsor, CT). Securities are distributed by ING Financial Advisers, LLC (member SIPC), Windsor, CT or through other broker-dealers with which it has selling agreements. Annuities may also be issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Variable annuities issued by ReliaStar Life Insurance Company are distributed by ING Financial Advisers, LLC. Variable annuities issued by ING USA Annuity and Life Insurance Company and ReliaStar Life Insurance Company of New York are distributed by Directed Services, LLC. Only ING Life Insurance Annuity Company and ReliaStar Life Insurance Company of New York are admitted and issue products in the state of New York. All companies are members of the ING family of companies. © 2008 ING North America Insurance Corporation. ELC.M.P.MS.904 C R (10/08) Not FDIC Insured \ Not NCUA/NCUSIF insured \ May Lose Value \ No Bank Guarantee \ No Credit Union Guarantee

2. Staying the Course: Reacting to the current financial climate
Location – Date
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED WHEN APPROVED TO SELL RETAIL V.A. PRODUCTS.
Insurance products, annuities, and retirement plan funding issued by (third party administrative services may also be provided by) ING Life Insurance and Annuity Company (Windsor, CT). Securities are distributed by ING Financial Advisers, LLC (member SIPC), Windsor, CT or through other broker-dealers with which it has selling agreements. Annuities may also be issued by ING USA Annuity and Life Insurance Company (Des Moines, IA). Variable annuities issued by ING USA Annuity and Life Insurance Company and are distributed by Directed Services, LLC. All companies are members of the ING family of companies. © 2008 ING North America Insurance Corporation. ELC.M.P.MS.904 C R (10/08) Not FDIC Insured \ Not NCUA/NCUSIF insured \ May Lose Value \ No Bank Guarantee \ No Credit Union Guarantee

3. Staying the Course: Reacting to the current financial climate
Location – Date
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED BY RETAIL BROKER-DEALERS
Securities and [financial planning] offered through ING Financial Advisers, LLC (member SIPC), One Orange Way, Windsor, CT, © 2008 ING North America Insurance Corporation. ELC.M.P.MS.904 C R (10/08) Not FDIC Insured \ Not NCUA/NCUSIF insured \ May Lose Value \ No Bank Guarantee \ No Credit Union Guarantee

4. Staying the Course: Reacting to the current financial climate
Location – Date
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED FOR ING Institutional Plan Services Business administered in Quincy and Somerset.
Recordkeeping and Plan administrative services provided by ING Institutional Plan Services, LLC © 2008 ING North America Insurance Corporation. ELC.M.P.MS.904 C R (10/08) Not FDIC Insured \ Not NCUA/NCUSIF insured \ May Lose Value \ No Bank Guarantee \ No Credit Union Guarantee

5. Staying the Course: Reacting to the current financial climate
Location – Date
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED FOR ING Institutional Plan Services where the plan is administered on Super OMNI in Windsor
Framewor(k) and (k)Choice Recordkeeping and Plan administrative services provided by ING Institutional Plan Services, LLC Mutual funds offered through ING Financial Advisers, LLC (member SIPC)© 2008 ING North America Insurance Corporation. ELC.M.P.MS.904 C R (10/08) Not FDIC Insured \ Not NCUA/NCUSIF insured \ May Lose Value \ No Bank Guarantee \ No Credit Union Guarantee

6. Important Information
Variable annuities, group annuities, or funding agreements are long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59½, an IRS 10% premature distribution penalty tax may apply. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.
Variable investments , of any kind, are not guaranteed and are subject to investment risk including the possible loss of principal. The investment return and principal value of the security will fluctuate so that when redeemed, it may be worth more or less than the original investment. In addition, there is no guarantee that any variable investment option will meet its stated objective.
For 403(b)(1) annuities, the Internal Revenue Code (IRC) generally prohibits withdrawals of 403(b) salary reduction contributions and earnings on such contributions prior to death, disability, age 59½, severance of employment, or financial hardship. Amounts held in a 403(b)(1) annuity as of 12/31/1988 are “grandfathered” and are not subject to these restrictions. For 403(b)(7) custodial accounts, the IRC generally prohibits withdrawals of any contributions and attributable earnings prior to death, disability, age 59½, severance of employment, or financial hardship. For both 403(b)(1) annuities and 403(b)(7) custodial accounts, the amount available for hardship is limited to the lesser of the amount necessary to relieve the hardship, or the account value as of 12/31/1988, plus the amount of any salary reduction contributions made after 12/31/1988 (exclusive of any earnings).
You should consider the investment objectives, risks, and charges and expenses of the investment options carefully before investing. Fund prospectuses contain this and other information and can be obtained by contacting your local ING representative. Please read carefully before investing.
IMPORTANT: THIS SLIDE ONLY TO BE USED WHEN APPROVED TO SELL ILIAC PRODUCTS.

7. Important Information
Variable annuities, group annuities, or funding agreements are long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59½, an IRS 10% premature distribution penalty tax may apply. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.
Variable investments , of any kind, are not guaranteed and are subject to investment risk including the possible loss of principal. The investment return and principal value of the security will fluctuate so that when redeemed, it may be worth more or less than the original investment. In addition, there is no guarantee that any variable investment option will meet its stated objective.
For 403(b)(1) annuities, the Internal Revenue Code (IRC) generally prohibits withdrawals of 403(b) salary reduction contributions and earnings on such contributions prior to death, disability, age 59½, severance of employment, or financial hardship. Amounts held in a 403(b)(1) annuity as of 12/31/1988 are “grandfathered” and are not subject to these restrictions. For 403(b)(7) custodial accounts, the IRC generally prohibits withdrawals of any contributions and attributable earnings prior to death, disability, age 59½, severance of employment, or financial hardship. For both 403(b)(1) annuities and 403(b)(7) custodial accounts, the amount available for hardship is limited to the lesser of the amount necessary to relieve the hardship, or the account value as of 12/31/1988, plus the amount of any salary reduction contributions made after 12/31/1988 (exclusive of any earnings).
All guarantees are based on the financial strength and claims-paying ability of the issuing insurance company, who is solely responsible for all obligations under its policies.
You should consider the investment objectives, risks and charges, and expenses of the variable annuity and its underlying investment options carefully before investing. The prospectuses for the variable annuity and underlying investment options contain this and other information. You may obtain free prospectuses by calling your financial professional or Please read the prospectuses carefully before investing.
IMPORTANT: THIS SLIDE ONLY TO BE USED WHEN APPROVED TO SELL RLIC or RETAIL V.A. PRODUCTS.

8. Important Information
You should consider the investment objectives, risks, and charges and expenses of the investment options carefully before investing. Fund prospectuses contain this and other information and can be obtained by contacting your local ING representative. Please read carefully before investing.
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED BY RETAIL BROKER-DEALERS and ING Institutional Plan Services business on Super OMNI in Windsor.
DO NOT USE WITH ING Institutional Plan Services business in Quincy and Somerset.

9. What We’ll Cover Where Do I Go From Here?
Financial Rollercoaster What’s happening?
Tips for Staying focused Dollar-Cost Averaging Asset Allocation Diversification
Top Retirement Bloopers Don’t make these mistakes!
We understand that today’s turbulent economic times may be unsettling as markets demonstrate unprecedented volatility and extraordinary conditions affect banks and insurance companies across the globe.
Today, we’ll talk about how to help you get through this turbulent time and address such topics as
What’s Happening?
What Can I Do?
Where Do I Go From Here?
Where Do I Go From Here?

10. Financial Roller Coaster
Recent volatility of the stock market:
Is this cause for concern?
A realization that market volatility is a way of life?
Most likely, a bit of both.
We’ll look at the history of market volatility, which for many of you, may be a new experience. We will continue to support the importance of diversification coupled with maintaining your long-term objectives.

11. How Did We Get Here?
Gaining insight into what’s going on in the marketplace. Questions to ponder...
Where within your portfolio did you incur the losses?
Was your account properly diversified? Were you focusing on certain asset classes and overlooking others?
Were your stock holdings broadly diversified by:
Size (small-, mid and large-cap stocks)
Style (value and growth)
Sector (retail, energy, utilities, etc.)
You may or may not have noticed a negative change in your (retirement plan) (variable annuities) (mutual fund) account balance over the last few years. If so, let’s try to gain insight as to what’s been happening.
Where within your portfolio did those changes occur? Was your account properly diversified to reflect your risk tolerance or did you find your account was concentrated in one asset class over another?
For future consideration, you may want to incorporate these factors into the review of your account holdings: Consider diversifying by size, style and sector. Doing so will not guarantee against loss, but it may cushion the effect of any future downturns.

12. Staying Focused Have a destination; set your goal
Specify your time frame
Prioritize objectives
Make periodic direction checks
When you invest, have a destination in mind. Consider this the cardinal rule of investing and your top priority.
Before you get too far down the road, make a map for yourself by setting your goals and objectives. Why is this so important? Because when you need the money and how you plan to use the money may dictate how you’ll invest it.
For example, if you don’t think you’ll need your money for another years, you have lots of time to start saving, BUT if you think you’ll need your money in less than 10 years, you may have ground to make up especially if you haven’t even started saving.
Finally, be sure to stop periodically and check your direction to make sure your goals still make sense and you’re still on track. 4

13. The ups and downs of the market cycle
This chart depicts a rising and falling market period. There are risks in buying high and selling low. Those who only try to invest at the “perfect time” can never truly predict the way things will go.
Understanding the market cycle is a key to getting the most out of your investment goals. Knowing the course—the up-and-down movement of the market—can help you maximize your returns.
Timing the market is impossible. You may miss the market’s best days if you attempt it. Investors who time the market and let emotions control their investing run the risk of missing out on the best returns.

14. Investing Through Dollar Cost Averaging
Share Price $5 $8 $6
$10 5 10
January
$100
March
16.6
April
12.5
May
June
February 20
Month:
Investment:
Shares: 7 8 6 9
Investors often question as to when they should invest and how much. Everyone would like to be able to “time the market” — buy when prices are low and sell when prices are high.
Fortunately, by participating in a employer-sponsored retirement program through payroll deduction, investors automatically utilize a sound investment strategy called dollar-cost averaging. It reduces the risk of investing at the “wrong time” and actually takes advantage of the market’s ups and downs.
With dollar-cost averaging, investors do not invest all of their money at one time, but rather a smaller, fixed dollar amount on a regular basis. This helps make the market’s normal ups and downs work to their benefit. They may accumulate more shares of an investment because they’re buying extra shares when the price is lower and fewer shares when the price is higher. What’s more, over time an investor’s average cost per share may be lower than the market’s. Note that in this scenario, an investor purchased 88.2 shares at an average cost per share of $6.80. The average market price per share for the same period was higher at $7.16.
Of course, dollar-cost averaging doesn’t guarantee a profit or prevent losses. It’s used to help cushion the effect of wide price swings in the market. As with any strategy, sticking to the plan is what makes it effective. With dollar-cost averaging, the key is investing a set dollar amount on a regular basis. Investors continue to invest the same amount at the same time whether the market is up or down.
Total Investment: $600
Total Shares Purchased: 88.2
Average Cost per Share: $6.80
Average Market Price per Share: $7.16
(From previous example)
Dollar cost averaging/Systematic Investment plan does not ensure a profit nor guarantee against loss. Investors should consider their financial ability to continue their purchases through periods of low price levels. The hypothetical investment results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments.

15. Making a One-time Investment
$10 $6
Share Price 5 10
January
$600 60
March $0
April
May
June
February
Month:
Investment:
Shares: 7 8 6 9
IMPORTANT: Must read DCA disclosure from slide.
Putting the same dollar amount aside in a single lump sum can have quite a different result.
This graphic clearly demonstrates the point. This investor takes the same amount of money and invests it in a lump sum in January purchasing 60 shares at the January share price of $ By June, the ending share price has fallen to $6 per share.
Once again, the investor purchased 60 shares in this example. In the previous example, through dollar-cost averaging, the same investor purchased 88.2 shares. In addition, the average cost per share for the investor in this example is $10.00 per share while the average market price per share from the previous example was $7.16.
Participating in an employer-sponsored retirement program makes it easy for investors to take advantage of the concept of dollar cost averaging through regular savings via payroll deduction. This is another method to increase an investors overall retirement account growth potential.
Remember the general key points of dollar cost averaging:
Reduced average cost per share, and
The potential to purchase more shares for an investor’s account.
Total Investment: $600
Total Shares Purchased: 60
Average Cost per Share: $10.00
Average Market Price per Share: $7.16
(From previous example)
Dollar cost averaging/Systematic Investment plan does not ensure a profit nor guarantee against loss. Investors should consider their financial ability to continue their purchases through periods of low price levels. The hypothetical investment results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. A lump sum investment fluctuates with market conditions and does not ensure future returns.

16. What a Difference a Year Can Make!
Timing of Returns Can Be More Important than Average Returns
Ed, who retired at the end of 1972 immediately faced two years of heavy market declines, which were compounded by his annual withdrawals of an inflation adjusted amount of $12,500 per year or 5% of his original $250k portfolio. As a result, it took only 17 years – until 1989 – for Ed to deplete his portfolio.
Dan, who retired one year later, at the end of 1973, and maintained the same investment and annual withdrawal plan as Ed, had a completely different experience. Although he was spared the stock market’s 1973 decline, he otherwise experienced the same conditions as Ed. As insignificant as this one year may seem, it made all the difference to these hypothetical retirees. Unlike Ed, Dan has watched his portfolio grow.
Since no one can predict what the stock market will do, a certain amount of luck comes into play when you decide to retire. Retiring at the wrong time –when the market is negative –could be devastating to your retirement savings. It turns out that the market’s performance at the beginning of your retirement can have a marked impact on the value of your principal and the amount of income that you can take throughout your retirement years. Here is an example of the difference that timing can make during retirement for two hypothetical investors with diversified portfolios:
This illustration is used with permission from Van Kampen.
Stocks are represented by the Standard and Poor’s 500© Index (S&P 500). The Standard and Poor’s 500© Index (S&P 500) is a broad-based index, the performance of which is based on the performance of 500 widely-held common stocks chosen for market size, liquidity, and industry group representation. The index does not include product expenses, fees or sales charges, which would lower performance. The index is unmanaged and should not be considered an investment. It is not possible to invest directly in an index. Withdrawals are adjusted for inflation so that the current real value of the money withdrawn each year is $12,500. Withdrawals are made at the beginning of each year and are hypothetical examples. All results are shown gross of taxes on capital gains and ordinary income. If taxes were included, returns would be lower. This illustration is not intended to predict the performance of any specific investment. Past performance does not guarantee future results.

17. Smart Investors Know How Much Risk They’re Willing to Take.
Higher
The higher the risk potential, the higher long-term reward potential
AGGRESSIVE
MODERATE
Potential Reward
The lower the risk potential, the less long-term reward potential
CONSERVATIVE
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED WHEN APPROVED TO SELL ILIAC or RLIC INSURANCE PRODUCTS and optional for ING Institutional Plan Services.
Now, let’s talk about risk. There are all kinds of investments out there, so how do you choose ones right for you? One consideration is how much risk you’re willing to take.
In short, risk tolerance is all about how willing you are to trade the potential to earn more for the risk of losing some. If you’re the type who’s likely to throw caution to the wind in pursuit of the chance for higher returns, you may want to emphasize stock investments or certain types of bonds.
If you really can’t live with losing any of the money you’ve invested, you may want to stick with lower-risk bonds or cash investments, such as money markets or CDs.
In truth, most folks net out somewhere in between. Age also figures in to how much investment risk you may wish to take … as we’ll see next.
Lower
Risk
Higher
Using diversification as part of an investment strategy neither assures nor guarantees better performance and cannot protect against loss in declining markets.

18. Smart Investors Know How Much Risk They’re Willing to Take.
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED BY IFA and RETAIL BROKER-DEALERS.
Now, let’s talk about risk. There are all kinds of investments out there, so how do you choose ones right for you? One consideration is how much risk you’re willing to take.
In short, risk tolerance is all about how willing you are to trade the potential to earn more for the risk of losing some. If you’re the type who’s likely to throw caution to the wind in pursuit of the chance for higher returns, you may want to emphasize stock investments or certain types of bonds.
If you really can’t live with losing any of the money you’ve invested, you may want to stick with lower-risk bonds or cash investments, such as money markets or CDs.
In truth, most folks net out somewhere in between. Age also figures in to how much investment risk you may wish to take … as we’ll see next.

19. Relative Return/Risk Continuum for Sample Asset Classes
Potential risk/reward balance of asset classes
Global/International
Small/Mid/Specialty
Large Cap Growth
Large Cap Value
Stability of Principal
Bonds
Balanced
Lower
RISK
Higher
POTENTIAL REWARD
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED BY ILIAC and RLIC.
Each asset class has a unique objective, ranging from conservative to aggressive. This graphic is intended to show a hypothetical relative positioning of each asset class on a relative risk/return continuum.
The vertical line on the left labeled “Return Potential” reflects the return on investment for the asset classes. As you move up this line, the return potential increases. The horizontal line on the bottom labeled “Risk” reflects the investment risk associated with that asset class. As you move from left to right, the risk associated with that asset class increases.
For example, the asset class labeled Stability of Principal is considered to be conservative. Note that it’s located toward the left of the risk spectrum and toward the bottom on the potential return spectrum. While investing in this asset class provides investors with greater principal protection, you sacrifice some of the benefits of a market upswing.
On the other extreme, consider the Global/International asset class. It’s high up on the potential return spectrum but the risk associated with investing in this asset class has increased dramatically. When invested in this asset class, your investment dollars could benefit dramatically during a market upswing. That said, during a market downturn, your investment may decline accordingly. As a general rule of thumb: The greater the potential risk, the greater the potential reward. You should always consider your personal risk tolerance when making investment-related decisions. You may wish to consider diversifying your dollars among several asset classes to potentially soften the blow by downturns in any one particular asset class.
Using diversification as part of an investment strategy neither assures nor guarantees better performance and cannot protect against loss in declining markets.

20. Relative Return/Risk Continuum for Sample Asset Classes
Bond Risk Comparison Disclosure The value of debt securities may fall when interest rates rise. Debt securities with longer maturities tend to be more sensitive to changes in interest rates, usually making them more volatile than debt securities with shorter maturities. For all bonds there is a risk that the issuer will default. High-yield bonds generally are more susceptible to the risk of default than higher rated bonds.
Government Bonds (Generally 10 to 30 years in duration) Long term Government Bonds are measured using a one-bond portfolio with a maturity near 20 years. They are guaranteed by the U. S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value.
Growth Growth-oriented stocks typically sell at relatively high valuations as compared to other types of stocks. Historically, growth-oriented stocks have been more volatile than value-oriented stocks.
High Yield Investments in high yield bonds are high risk investments. High yielding fixed-income securities generally are subject to greater market fluctuations and risk of loss of income and principal than are investments in lower yielding fixed-income securities.
International International investing involves special risks such as currency fluctuation, lower liquidity, political and economic uncertainties, and differences in accounting standards. [Risks of foreign investing are generally intensified for investments in emerging markets.]
Mid Sized Company Stocks In exchange for higher growth potential, investing in stocks of small- and mid-sized companies may entail greater price volatility and less liquidity than investing in stocks of larger companies.
Mid-Cap Securities of mid-sized companies may be more susceptible to price swings and are less liquid than investments in larger companies. Using diversification/asset allocation as part of your investment strategy neither assures nor guarantees better performance and cannot protect against loss in declining markets.
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED BY ILIAC and RLIC.

21. Relative Return/Risk Continuum for Sample Asset Classes
IMPORTANT: THIS TITLE SLIDE ONLY TO BE USED BY ING INSTITUTIONAL PLAN SERVICES, LLC. Do not use slides 17 and 18.

22. Diversify Between Asset Classes
An asset class is a category of funds with similar investment objectives and risk profiles.
Asset class diversification attempts to reduce risk and/ or improve overall return.
Over time, the variance of returns within an investor’s portfolio primarily depend on the invested asset classes vs. individual fund selection
An asset class is a category of funds with similar investment objectives and risk profiles. For example, the investment options offered in your retirement plan may generally cover a range of several different asset classes.
Studies have shown that the one of the ways to help minimize your risk, is to invest your savings across a variety of funds and asset classes. In doing so, poor performance in one class may be balanced by good performance in others. Using diversification as part of your investment strategy neither assures nor guarantees better performance and cannot protect against loss in declining markets but it may cushion the effects of a declining market.
Source: A landmark study, “Determinants of Portfolio Performance,” by Brinson, Hood and Beebower, presented in Financial Analysts Journal (May –June, 1992), and its update in 1996, showed that asset allocation decisions, far more than any other factor, affected the long-term performance of an investment portfolio.

23. Asset Class Winners and Losers Historical Performance
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
HIGHEST
RETURN
Large
Stocks
Small
Int’l
LT Gov’t
Bonds
30 Day
T-Bills
This graphic illustrates the annual performance of various asset classes in relation to one another. In times when one asset class dominates all others, as was the case for large stocks in the late 1990s, it becomes easier to lose sight of the fact that historical data demonstrates that it is impossible to predict the winners for any given year.
Investors betting on another stellar performance for large stocks in 1999 were certainly disappointed as large stocks fell to the middle of the pack and international stock rose to the top. These types of performance reversals are evident throughout this example. It simply goes to show that past performance is no guarantee of future results.
A well-diversified portfolio may help investors mitigate some of the risks associated with investing. By investing a portion of a portfolio to a number of different asset classes portfolio volatility risk could be reduced. Remember that diversification alone neither assures nor guarantees better performance and cannot prevent against loss in declining markets. In other words, there are other factors to be taken into consideration when selecting investments.
LOWEST
RETURN
Source: Thomson Financial Company
These unmanaged indexes are not intended to represent specific mutual funds. Investors cannot invest directly in an index. Individual results may vary to management fees, transaction costs and taxes. Performance figures do not take into account the fees and expenses of investing in mutual funds or variable products. Past performance is no guarantee of future results.

24. Potential Benefits to Diversification
The visuals for this slide are intended to serve as a metaphor for an investor’s well-balanced portfolio.
With respect to investors, establishing a diversified portfolio of investments within several asset classes follows the same premise as the illustration. Regardless of how the market is performing, differing investments within a portfolio will usually react or perform uniquely from one another. For example, as Large Cap stocks surge upward, Small Cap stocks may experience a downswing. Ideally, any downturns associated with certain investments in a portfolio will be complemented by the gains of other investment types within a diversified portfolio.
Remember - Diversification seeks to reduce risk within a portfolio - it can't eliminate it.

25. Charting the Growth of $1
This chart shows how one dollar ($1.00) invested in the S&P 500 Index at the end of 1970 and left alone until June, 2008 (an expanse of history that includes the 1973 Arab oil embargo, the financial panic of 1987, and the terrorist attacks of September 11, 2001) would have grown to $14.13 during those years (this is only market growth and does not take inflation into account). This illustrates historically the potential of remaining in the market for the long term.
Source: Commodity Systems, Inc. (CSI) via Yahoo Finance, September 2008.
This chart is for illustration purposes only and represents a hypothetical investment in the S&P 500 Index. This illustration only includes market growth and does not take inflation into account. Such an illustration does not represent the performance of any ING Product. Index performance assumes reinvestment of all income. The S&P 500 is an unmanaged capitalization-weighted index of 500 stocks designed to measure performance on the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. An investor cannot directly invest in an index. However, this index accurately reflects the historical performance of the represented assets. Investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investment. Current performance may be lower or higher than the performance data shown.

26. Avoid stops & starts: Don’t lose sight of your long-term objectives:
Staying Focused
Avoid stops & starts: Don’t lose sight of your long-term objectives:
Overall investment strategy
Investment horizon timeline (years until retirement)
Diversification through asset allocation
Disciplined investing through dollar-cost averaging
In response to the market declines of the past few years, many investors resort to making frequent investment transfers in response to short term market volatility. Many times, investors find themselves “chasing” hot performing funds not realizing that those investments they are chasing are perhaps momentarily peaking thereby causing them to buy at a higher cost per share. Obviously, this method contradicts the overall long-term strategy of (mutual fund) investing within your retirement program.
Frequent traders seem to abandon their overall long-term investment strategy by allowing their emotions to cloud their judgment concerning what “hot” funds to chase.
Once again, when adjusting or re-balancing the investments within your portfolio, ask yourself whether or not you are maintaining your desired long-term strategy and if the risk associated with these investment options is right for you:
Make informed investment decisions and remember that emotion tends to be the enemy of all good investors.

27. Don’t Get Caught Chasing Returns A Lesson in Patience
Investment Returns
Emotions can get in the way of making the right investment decisions. To help succeed in today’s challenging markets, investors need patience and discipline in order to develop a long-term investment strategy and stay with it. Since 1970, the average holding period for mutual funds has gone down from over 11 years to just over 2 years. By jumping from investment to investment, many investors may actually lose out on the type of performance they’re seeking. For example, some investors may try to outpace the market by selling one fund to buy another with greater appeal. In many cases, these investors often end up buying high and selling low, which contradicts the practice of long-term investing. If done often enough, these investors may actually end up with less money than if they left their money in the original investments.
This chart shows how chasing returns has taken a serious bite out of investing potential. Although the period from 1986 through 2005 was one of the strongest financial periods in history, many investors captured significantly less performance than the market offered.
While the S&P 500 Index returned an average of 11.90% per year from January 1988 through December 2007, the typical equity investor earned only 3.90% per year for the same period. Average equity investor returns were calculated by measuring the average amount of time investors held onto their investments. The simple truth: From 1986 through 2005, the average equity investor, invested in S&P 500 funds, consistently pulled out of their investments and adopted more of a short-term investment strategy. This reason alone, may have significantly contributed to their smaller overall returns for this period when compared to the S&P 500 Index.
Source: Dalbar, 2008 and Thomson Financial Company.
Returns as of 12/31/07. Average Equity Investor returns were calculated by applying the retention rates of investors of mutual funds to the returns of the S&P 500. The S&P 500 is an unmanaged index and is not intended to represent specific mutual funds. Investors cannot invest directly in an index. Individual results may vary to management fees, transaction costs and taxes. Performance figures do not take into account the fees and expenses of investing in mutual funds or variable products. Past performance is no guarantee of future results. While the S&P 500 Index returned an average of 11.90% per year from January 1986 through December 2005, the typical equity investor earned only 3.90% per year for the same period. Average equity investor returns were calculated by measuring the average amount of time investors held onto their investments. The simple truth: From 1986 through 2005, the average equity investor, invested in S&P 500 funds, consistently pulled out of their investments and adopted more of a short-term investment strategy. This reason alone, may have significantly contributed to their smaller overall returns for this period when compared to the S&P 500 Index.

28. Smart Investors Recognize the Mile Markers Towards Success.
Have a Destination
Keep Perspective
2003
2004
2005
2006
While no investment strategy or approach is right for everyone, this can serve as a reminder of what we’ve discussed today.
Here are the guidelines for removing roadblocks and putting you well on your way:
Have a clear destination and make a plan for getting there.
Keep your eyes on the road ahead and expect ups and downs.
Stay in for the long haul.
Know how much risk you’re willing to take.
Don’t Chase Returns
Be Patient

29. Top Retirement Bloopers
You aren’t saving at all for retirement Will Social Security subsidize your retirement needs?
You don’t know the first thing about planning for retirement Do you know there are a world of options to help you save for retirement?
You aren’t taking full advantage of your options. Will you forgo the potential tax-deferred growth?
You aren’t diversified Have you checked the Top 10 holdings of your investment
options?

30. Top Retirement Bloopers
(continued)
You assume you’ll need less income in retirement Upon reaching retirement, will your lifestyle change?
You’re not taking advantage of higher savings limits Do you know what options you have to save more?
You borrowed from your retirement plan when it wasn’t really an emergency Do you know you’re missing out on potential market growth while paying yourself back?
You cashed out your retirement plan Did you pay over 35% in taxes including a 10% penalty?
You don’t have a retirement income distribution strategy Will you take a lump sum or opt for a systematic payout?

31. Where Do I Go From Here? Determine your true risk tolerance.
Analyze and rebalance your long-term investment strategy.
Consider increasing your contributions.
Remember, rash reactions to losses could lead to decisions that are later regretted.
Define and reevaluate long-term investment objectives.
Devise strategies to help achieve your objectives.

32. Time to Take Action
Learn more at [ingretirementplans.com] [ing.com/us] about Asset Allocation
See your ING [Plan] representative.
Check the Internet.
IMPORTANT: COMPLETE THIS SLIDE WITH YOUR CHANNEL’S SPECIFIC WEBSITE AND CONTACT INFORMATION.
We hope you found this helpful and that you have identified a couple of next steps given what you’ve learned.
I’d like to add a few thoughts of my own to the mix. For the readers in the audience, you may want to pick up some books on the topic at your local book store or library, or perhaps visit Amazon.com. [SPEAKER TO MENTION BOOKS HE/SHE FINDS USEFUL.]
Something else that may prove valuable is to find out more about your company’s retirement plan and how to enroll. Talk to your benefits manager or go to your company’s Web site for more information. If you are enrolled there is good information on the ING Retirement plans website…you can find out your balance, tools for helping you with allocating your assets and much more.
Or, get on the Internet. It’s a storehouse of information right at your fingertips. Just be sure you know who’s hosting the site and that they’re qualified to address the topic you’re interested in. For instance, the U.S. government has many Web sites, including ssa.gov that can be relied upon.
Also, you may want to consider consulting a financial professional. Professionals can be a good source of knowledgeable and objective advice, especially if you’re just starting out. You may have a resource assigned to your company…their names are provided on your employer’s site. Or you can call XXX-XXX-XXXX to get help.
Thanks for your time.
Contact me today at (XXX) XXX-XXXX

33. What’s next?
Questions? 22