How To Identify Your Retirement Plan’s Strengths And Weaknesses

How To Identify Your Retirement Plan’s Strengths And Weaknesses

This is part of my series outlining the importance of implementing a Retirement Income Framework. Last year, my colleague Alex Murguia and I developed a framework called the Retirement Income Optimization Map™, which I am using in this series as an example of how such a framework can be used. Especially for Retirement Income Funding, the RIO Questionnaire provides a beginning of the journey rather than the destination. More work is to be done. The RIO Map™ is not just used at the start of the journey, but is used as a continuing reference point that shifts as your priorities, needs, and desires evolve over time. Scoring the Questionnaire After completing the RIO Questionnaire, we analyze your answers to determine where you stand with respect to various aspects of retirement income planning. As part of this, we first apply sensitivity filters to your answers. It is possible for two households to answer their RIO Map™ questions in a similar manner but still have different scores, strengths, weaknesses, and RIO Maps™. This is because we apply sensitivities such as your goal priorities, age, marital status, proximity to retirement, and other factors to ensure your map is specific to you. Your score […]

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How To Identify Your Retirement Plan’s Strengths And Weaknesses

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