social security personal savings - voya financial …...2011/07/13  · social security go to to...

Visit the Kohler Co. 401(k) Savings Plan Web site: KOHLER.ingplans.com.

Ifyou’reingoodhealth,yourretirementassetsmayneedtolast25yearsorlonger.Calculatetheamountyou’llneedtocoveryourlivingexpensesduringyourretirementyears.Includesuchfactorsas:

• Retirementage • Monthlyexpenses

• Projectedincome • Lifestyleandtravelplans

Becausethecostoflivingrisesslightlymostyears,youmayneedtogiveyourselfaraiseofaround3%annually.Youmayalsowanttomeetwithafinancialplannerwhocanconsiderallthevariablesandhelpyoumaketherightmovestomeetyourretirementincomeneeds.

LearnmoreattheKohlerPlanWebsite INGAdvisorServiceofferspersonalized,objective

investmentadvice.Youcanaccessself-directedadviceonlineorgetadvicebyphonewiththehelpofaninvestmentprofessional.Youdecidewhichapproachisbestforyou.Tolearnmore,logontoKOHLER.ingplans.comandselectINGAdvisorServicesunder“Plan Highlights”inthePlan Informationsection.

Youmayhaveseveralsourcesofretirementincomewithdifferentwithdrawalandtaxrules.Soyouwillneedanoverallincomestrategy.Startbymakingalistofyourincomesourcesandincludethemonthlyincomeamounts.Includesourcessuchas:

SocialSecurity

Gotowww.ssa.govtocalculateyourestimatedretirementbenefit.Youcanalsolearnhowtakingdistributionsbeforeorafteryourfullretirementagemayimpactyourbenefit.

PersonalSavings

• IRAs • Stocks,bonds,mutualfunds

• Annuities • Realestate

• Cashvaluelifeinsurance

Ifyouhavesavingsthatarenottax-deferred,considertappingintothemfirstsoyourKohlerCo.401(k)SavingsPlanassetscancontinuetogrowtax-free.

Employer-sponsoredretirementplans

• YoumaybeeligibleforamonthlyretirementbenefitundertheKohlerCo.PensionPlan.ContactKohlerKonnectifyouneedapersonalizedbenefitestimate.

• Consideranypensionorsavingsplanaccountsfromprioremployers.

• YoucanbeginwithdrawingmoneywithoutpenaltyfromtheKohlerCo.401(k)SavingsPlanatage59½.

Work

Ifyouplantokeepworkingduringyourretirementyears,checkwithSocialSecuritytoseeifemploymentwillaffectyourbenefits.

PersonalOnlineAdvisorTool Ifyouliketodothingsonyourown,youcanusetheOnline

AdvisorServicetoollocatedunder“Investment Advice”intheResource CenterofthePlanWebsite.Usinginteractivesoftware,youcanseehowdifferentsavingsandinvestmentchoicescouldimpactyoursavings.

5 Steps to Get Retirement Ready

If retirement is coming soon,you need to prepare now.Youmaybethinkingaboutretiringsoon.Butareyouretirementready?ThroughtheKohlerCo.401(k)SavingsPlan,Kohleriscommittedtoprovidingyouwiththeinformationandtoolsnecessarytoincreaseyourfinancialwell-being,bothtodayandduringretirement.

Thisguideoffersastep-by-stepplantohelpgetyouontrackforretirement.Sharethisinformationwithyourspouseorpartner.

Step 1. Determine your retirement income goal

Step 2. Know your income sources — and have a drawdown strategy.

!TakeChargeofyour401(k)

Anestateincludesallthethingsofvaluethatyouown.Youneedaplantoensuretheorderlytransferofassetstoyourintendedheirs—andtoprotectandmanagethoseassetsifyoucannot.Considermeetingwithanestateattorneyandaskabout:

• Will • Durablepowerofattorney

• Livingtrust • Livingwill

Enlistataxprofessionaltohelpyousortthroughyouroptionsandmakeinformedchoices.

LearnmoreattheKohlerCo.401(k)SavingsPlanWebsite: Goto“Estate Planning”under“Personal Finance”in

theResource Centerforinformationaboutbeneficiaries,understandingtrusts,andmore.

ForinformationabouttheoptionalINGAdvisorService,providedbyINGInvestmentAdvisors,LLCpleasereadtheAdvisorServiceDisclosureStatement.TheAdvisorServiceDisclosureStatementmaybeaccessedviatheparticipantWebsiteoryoucanrequestonebycallingtheplaninformationline.TheINGAdvisorServiceispoweredbyFinancialEngines.FinancialEnginesisaregisteredtrademarkofFinancialEngines,Inc.INGInvestmentAdvisors,LLCdoesnotgivetaxorlegaladvice.

Step 3. Ensure your health and wellness— and prepare for the unexpected.

Step 4. Get your estate in order.

Step 5. Plan for lifestyle changes as you approach this new stage of life.

Usethischecklistasaguide:

IknowwhatmySocialSecurityincomewillbeinretirement.

Ihavedevelopedaretirementsavingsstrategy.

Iknowtheapproximatefutureincomefrommyinvestments—401(k),pensions,IRA,savings,etc.

Ihavediscussedmyfinanceswithmyspouseorpartner.

Ihaveadvancemedicaldirectivesinplace(i.e.,healthcareproxy,durablepowerofattorney,andlivingwill).

Ihavemyimportantpapers,includingthoselistedabove,wheremyfamilycanfindthem.Ihavereviewedthepaperswithmyspouseorpartner.

Ihavereviewedmyhealthandlifeinsurancecoverages,bothnowandforretirement.

Ihavediscussedmyretirementplans,suchaswhereIwanttolive,withmyspouseorpartner.

When will you be retirement ready?

AccordingtotheAARP,a65-year-oldcouplewhoretiresin2011withMedicarecoveragecanexpecttopayabout$230,000outofpocketforhealthcareexpensesoverthecourseoftheirlives,*andthatfiguredoesnotincludedental,vision,hearing,orlong-termcareexpenses.Sobesuretoinvestigateyourhealthinsuranceoptionsandunderstandhowtheywork,including:

MedicareNationalhealthinsuranceforpeopleage65andover

Medicaresupplementalinsurance(Medigap)HelpscoverMedicare’sco-insuranceanddeductibles

Long-termcareinsuranceFornursinghomeorcaregiverservices

*Source:TheAssociatedPress,March31,2011

LearnmoreontheKohlerCo.401(k)SavingsPlanWebsite

Goto“Family & Finances”under“Personal Finance”intheResource Centerforgeneralinformationonhowtoprepareyourfamilyandfinancesasyouenterthenextstageoflife.

Kohler Co. 401(k) Savings Plan Web siteKOHLER.ingplans.com

Kohler Co. Plan Information Line888-401-5722

Livingthewayyouwantinretirementmaytakesomeplanningnow.Yourdesiredlifestylemightinclude:

• Relocation–researchcommunitiesand,ifnecessary,prepareyourhomeforsale

• Parttimeemploymentorjobchange–startnetworking,signupforclassesortraining

• Clubsandactivities–startbuildingrelationshipswithorganizationstomakethetransitiontoretirementeasier

Howeveryouspendyourretirementyears,managingyourassetswiselywillmakethemmorefulfillingandenjoyable.Asyoumoveahead,getalltheinformationyouneedbeforemakinganybigdecisions.

Visit the Kohler Co. 401(k) Savings Plan Web site: KOHLER.ingplans.com.

Resources

AARPwww.aarp.org

InternalRevenueServicewww.irs.gov

Medicarewww.medicare.gov

SocialSecurityAdministrationwww.ssa.gov

!TakeChargeofyour401(k)

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