Visualize Retirement - From Vision to Reality

All too often, retirement planning success is measured purely by financial metrics: savings amounts (15% per year), income replacement ratios (75% of preretirement income), or withdrawal strategies (4% the first year). But how can pre-retirees know how much money they're going to need if they don't know what they're saving for? Visualize Retirement helps preretirees prepare for the nonfinancial aspects of retirement, focusing on the key drivers of retirement happiness and success—lifestyle, health care and meaning. It starts with helping them create their vision for retirement and then uses that as an input—along with details about their retirement income and planning preferences—to help connect their vision to the financial decisions needed to support that vision. This presentation outlines the need for financial professionals and employers to connect with preretirees on the nonfinancial aspects of retirement planning. It explains why the nonfinancials are important, what they are, and how to incorporate them into the retirement planning process.