Could You Retire Sooner Than You Think?
You may be closer than you realize.
Many Tennessee higher education employees assume retirement is still years away because they've estimated their retirement income using the traditional 4% withdrawal rule or simply looked at their current retirement account balance.
But your retirement income options may be very different than you think.
Depending on your retirement accounts, your age, and your retirement goals, there may be strategies that can provide significantly more retirement income than many people expect.
The first step is understanding what's actually available to you.
Why Many People Underestimate Their Retirement Income
It's common for someone to log into their retirement account, see the balance, and think:
"If I have $1,000,000, I can probably withdraw about 4% each year."
That may be one approach.
But it isn't the only approach.
Many retirees are surprised to learn there are retirement income strategies specifically designed for people whose primary goal is dependable lifetime income rather than continuing to assume market risk throughout retirement.
Every situation is unique.
The goal isn't to recommend the same strategy for everyone.
The goal is understanding which approach best fits your retirement.
One Professor's Story
I recently worked with a Tennessee higher education professor who believed retirement was still another semester away.
As we reviewed everything together—including retirement accounts, Social Security timing, and retirement income options—we discovered choices that hadn't previously been considered.
After seeing the complete picture, that professor decided to retire one semester earlier than originally planned, with greater confidence and peace of mind.
Every retirement is different.
Sometimes simply understanding all of your available options changes everything.
Are You Looking at Your Complete Retirement Picture?
Your retirement income may eventually come from several different places.
Depending on your career, those sources may include:
Tennessee Optional Retirement Program (ORP)
TCRS Pension
401(k)
403(b)
457 Plan
Retirement accounts from previous employers
Social Security
Most people understand each account individually.
Very few people have ever had someone help them understand how all of those pieces work together.
A Common Misunderstanding
One conversation I have fairly often goes something like this:
"HR told me my pension is calculated using Years of Service × Final Average Salary × Benefit Multiplier."
That formula applies to many traditional pension plans.
However, if you're participating in Tennessee's Optional Retirement Program (ORP), you generally do not have a traditional pension calculated using that formula.
Instead, your retirement income will largely depend on the retirement accounts you've built throughout your career and the decisions you make when you begin taking income.
Understanding those choices before retirement can make a significant difference.
Could Your Retirement Accounts Produce More Income Than You Think?
Many people know how much they've saved.
Far fewer know what those savings may actually be capable of producing as retirement income.
For example...
Many financial articles reference the 4% Rule, suggesting someone with a $1,000,000 retirement portfolio might withdraw approximately $40,000 per year.
That is certainly one approach.
However, depending on your age, objectives, health, and retirement goals, there may be other strategies capable of producing significantly more guaranteed lifetime income.
The purpose of a retirement income review is simply to help you understand what options are available.
Compare More Than One Company's Solutions
If your retirement savings are currently invested with a provider such as TIAA, Corebridge, or Voya, it's natural that most of the retirement options you see come from that provider.
An independent retirement income review allows you to compare retirement income strategies from more than 15 highly rated insurance companies.
Sometimes your current provider remains the best fit.
Sometimes another solution better matches your retirement goals.
Either way, you'll make decisions with a much clearer understanding of your options.
During Your Complimentary Retirement Income Review, We Can:
✓ Estimate what your retirement accounts may be capable of producing as retirement income
✓ Review how your ORP, TCRS pension, retirement accounts, and Social Security may work together
✓ Compare different retirement income strategies
✓ Identify retirement accounts from previous employers that may still be available to you
✓ Determine whether you're eligible to move retirement funds while still employed
✓ Answer your retirement planning questions
What Makes Retirement Income Strategies Different?
Not all retirement income strategies are designed to accomplish the same objective.
Some focus primarily on long-term market growth.
Others focus on creating predictable lifetime income.
Some continue exposing retirement savings to market fluctuations.
Others are designed to provide guaranteed lifetime income regardless of how long you live.*
Understanding the differences allows you to choose the strategy that best fits your own retirement goals—not someone else's.
Schedule Your Complimentary Retirement Income Review
There is no cost and no obligation.
The goal isn't to pressure you into making changes.
The goal is to help you better understand your retirement resources, explore your available options, and make informed decisions with greater confidence.
👉 View Available Appointment Times
Don't see a convenient appointment time? Email me directly at aaron@apretirement.com and I'll be happy to work with you to find a time that fits your schedule. Evening and weekend appointments may be available.
About Aaron Payne
Aaron Payne, MBA is an independent Retirement Income Specialist serving Tennessee higher education employees and retirees.
He works with individuals participating in the Tennessee Optional Retirement Program (ORP), TCRS, 401(k), 403(b), and other retirement plans to help them better understand their retirement income options and make informed retirement decisions.
Important Disclosure
The examples shown on this page are for educational purposes only. Income amounts vary based on age, account value, product features, and other factors. Any guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company. This information is not intended as investment, legal, or tax advice.
