With Morningstar Retirement Manager, you’ll get:
A Target Retirement Income Goal
Do you know how much money you’ll need each year to live comfortably in retirement? That number’s going to vary for everyone, but our philosophy focuses on maintaining your level of take-home pay at retirement. That way retirement won’t be too much of a financial adjustment. In order to determine your annual retirement income goal, we project out your salary at retirement age, and then account for different tax needs and savings habits.
No cookie-cutter solutions here. Once we’ve determined your retirement goal, we’ll offer you a strategy to help you get closer to it. We’ll show you how much to save, when to retire, and when to start drawing Social Security. We can also sort out your employer’s retirement account in the context of any other money you have earmarked for retirement — pensions, IRAs, Social Security, old 401(k)s, your spouse’s savings, inheritances, you name it.
Professional Portfolio Construction
We’ll figure out how risky your investments should be, based on your age, financial situation, and other factors. Our experts will then evaluate the investments available through your retirement plan. Only investments that meet our standards and your overall risk profile are chosen. We’ll put your money into several kinds of investments based on the funds available in your workplace retirement plan, diversifying to prioritize moderate-but-steady gains in order to help minimize the potential for loss.