You’ve done all the hard work and planning to get to this point, and after many years of service to Verizon, you are reaping the rewards of that hard work. What can you do to make sure that your retirement cash flow and investment game plan continue to work for you?
The Crucial Steps You Should Take When Reviewing Your Retirement Cash Flow and Investment Plan
In our experience, we find a lot of value in conducting a full and comprehensive review of your income sources, expense needs, and investment portfolio at least once a calendar year. Here are the different steps you can take to do so. If you’re working with an advisor, he/she should be guiding you through these steps.
Has your appetite and/or budget for risk in your portfolio changed substantially? If so, it may be worth exploring an adjustment to your investment portfolio strategy.
Risk Assessment Questionnaire
This “investor personality quiz” questionnaire can be used to determine if your portfolio strategy is still aligned with your needs. At the end of the questionnaire, you’ll get a “risk score” which you can use to compare against your current portfolio to determine if any changes might need to be made.
While the original assumptions used for your initial retirement and cash flow plan are a great benchmark to work from, life happens and therefore things may play out slightly differently compared to the original plan. Taking inventory of all the crucial components of your wealth can help determine if your needs from the portfolio have changed. These components include:
A review of all the components of your wealth, income sources, and expenses will allow you and your advisor to determine if any changes should be made to where you are taking your income from, and how your wealth should be invested and managed.
We used our 20+ years of experience helping Verizon employees retire to create this guide. It includes a retirement planning timeline and the most important steps to consider.Download Now
Yes! You can always reach out to the Benefits Center if you’re not sure where to go to get a question answered or to gather information about your retirement benefits. A few reasons for a retiree to reach out to the Benefits Center include 1. Questions about healthcare coverage 2. If you elected the annuity payout option for the pension and you have service-related requests/questions 3. Life insurance questions
For those who take the lump sum distribution option, that asset is now yours outright and is not tied to the financial status of Verizon as the sponsoring company. For those who take the annuity option, a portion of your benefit may be in jeopardy if Verizon were to deal with financial troubles, depending on the extent of that financial hardship. The PBGC (Pension Benefit Guaranty Corporation) is meant to protect a portion of your annuity income so that the entire benefit is not lost.
The right date to start taking your Social Security benefit is different for everyone and is an extremely personal decision. There are several components everyone should keep in mind when making this decision: 1. Income needs in retirement 2. Income resources you can depend on besides Social Security 3. Family longevity history (and therefore your projected longevity). There are also several timing strategies that can be used between two spouses to start one’s benefits earlier and delay/grow the other spouse’s (eligibility for these strategies depends on the year in which you were born).
In this Verizon retirement video, we will cover some related questions submitted to us, as well as the top considerations we encourage you to keep in mind when retiring from Verizon or retiring in general, such as:
In this video, Christina, Bobby and Casey discuss the expectations for Q2 2021 pension rates.Read More
With the launch of the new Verizon Retirement Red Zone page on their website, Bob, Casey and Christina sit down to discuss how they came to know the Verizon retirement program and why they continue to work so closely with Verizon employees.Read More
If you are a Verizon associate, you probably are familiar with the 401(k) plan the company offers.
If you are beginning the process of planning for your retirement, there are steps to take now to ensure your healthcare coverage continues after you retire.
Social Security benefits provide a much-needed financial security net that facilitates a comfortable retirement.
The secret is understanding how to spend and invest your retirement assets to eliminate IRMAA.
As we are early in 2022 it’s a good time to reflect on the guiding principles which govern our investment advice philosophy. H&A’s overall basis of investment advice is goal-focused
As we are early in 2022 it’s a good time to reflect on the guiding principles which govern our investment advice philosophy. H&A’s overall basis of investment advice is goal-focused and planning-driven
Pension-eligible Verizon employees should understand the pros and cons of the annuity option and the lump-sum payout. Learn more.
We help Verizon employees considering or taking EISP offers plan for a financially secure retirement. Learn how to get the most out of your EISP.
Contact information for the Verizon Benefits Center and other important contacts.
Online access to your accounts, statements and secure documents.
A helpful guide to help ensure you have everything you need for comprehensive estate planning.
The official U.S. government site for Medicare.
The official website of The United States Social Security Administration.
We’re only a phone call or email away. Whether you have a question about building and managing your wealth or planning for your future, or if you just want to get to know us better, we would love to hear from you.