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Retirement Income Analysis planning steps

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Eric SchwartzYou may have read last week's article, Are you retirement ready? It discusses our Retirement Income Analysis (RIA) financial planning option and the experience retired Wisconsin educators Karen and Nick Niehausen had when they participated.

If you’re within 10 years of retirement, the RIA can help you answer questions such as, Can I really retire? Do I have enough money saved to support the lifestyle I want? How do I plan my budget and preserve my assets when I’m no longer working?

If you decide to sign up for the RIA, here's what you can expect in the process.

1. Initial consultation

This free, no-obligation consultation gives you a chance to talk with a Member Benefits’ financial planner who can assess your situation and recommend the direction you should take.

2. Data gathering

Fill out a data gather package before this face-to-face appointment. Over the course of 2½ hours, you’ll review a sample analysis, sign a service agreement, pay the fee, go over documents, and identify, develop, and prioritize your financial goals and objectives.

3. Analysis and plan development

In about a month’s time, our financial planner analyzes your information, develops strategies, and writes recommendations to meet your goals. You can request up to three scenarios for the planner to consider.

4. Presenting the plan

At this face-to-face meeting, the planner will review the analysis, present the recommendations, and describe the specific strategies included in the retirement plan.

5. Monitoring progress

Schedule follow-up meetings to monitor your progress and make adjustments to your plan as needed. As a Wisconsin public school employee, you are entitled to a free one-hour consultation each year which can be used to review your RIA.

If you have questions or would like to learn more about the RIA, give us a call at 1-800-279-4030 or email

Eric Schwartz, Financial Planning Specialist