Frequently asked questions (FAQs)

 

Planning

Remember the majority of what we discuss here describes a developing program, but we’d like to provide you with some information about our proposed services.

  • How will my plan length be calculated?

    Based on your income, expenses and financial assets, we can help you project how long your plan may last. We calculate your gap in expenses and income at various points in time to determine how much you may want to withdraw from your accounts (tax-efficiently, of course). Your plan length is essentially a projection of how long you may cover your lifestyle or expenses in retirement. View our methodology for additional details.

  • How would my plan length change?

    We will always want to be transparent about the impact to your plan, positive or negative. If you decide to collect Social Security later, generally your plan may last longer; but, if you take out a large withdrawal, your plan may not last as long.

  • Why does my balance look like it’s going down?

    We get it, you’re used to seeing that graph going the other way. That’s because while you’ve been working, you’ve likely been accumulating and growing your savings. When you retire, you may need to start taking withdrawals, decumulating to live off those savings.

  • What if I’m not comfortable with the projections I see?

    In general, you can always save more, spend less, or earn more. Once our advisory services are made available, we’ll aim to help you make the most of the savings you do have. Remember, the purpose of this pilot program is to test a developing platform by providing you with access to certain hypothetical simulations, and you’re able to model different projects based on the information you provide.

  • How will my plan change over time?

    Your plan may change as your life changes. Your investment strategy may change as you age too. You’ll always be able to update any of your information.

  • How is health care factored into this?

    Good question, and it’s something we want to incorporate more in the future, especially if you already have an HSA. We know that health care expenditures can rise with age and we recognize this is an important consideration for many retirees, but typically as health care costs increase, other costs decrease.

    Ultimately, if your expenses change due to unforeseen health conditions, you can always update them, and we’ll modify your plan accordingly.

  • How do I make changes to my plan?

    Click View/edit info to adjust your income, expenses, accounts and balances, or risk tolerance and see how our projections might change.

These FAQs do not describe an existing service and Fidelity Investments reserves the rights to modify any portion of this concept. This information is for marketing purposes only and does not constitute an offer of any existing products or services.

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This experience is for people nearing or in retirement who file single or married filing jointly.