IncomePath provides a step-by-step guide that helps individuals visualize retirement income strategies by evaluating spending, investment risk, and financial product choices. The platform enables financial professionals to create personalized retirement income plans that balance lifetime income and investment risk, addressing the uncertainty of retirement duration and market performance.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals approaching retirement struggle to visualize and understand the complex interplay of spending habits, investment risk, and financial product choices when planning their retirement income. The uncertainty surrounding retirement duration and market performance adds to the difficulty of creating a sustainable and personalized plan.
Solution
IncomePath is a platform designed to help individuals and financial professionals create retirement income plans that balance lifetime income and investment risk. The platform uses a step-by-step guide to help users visualize different retirement income strategies by evaluating spending, investment risk, and financial product choices. "My IncomePath" visually brings these concepts to life in an intuitive and simple format. Financial professionals can develop retirement income plans that allow clients to easily direct their own plan with the right amount of lifetime income and investment risk.
Target Audience
The primary target audience includes individuals planning for retirement and financial professionals seeking tools to create personalized retirement income plans for their clients.
Features
- Step-by-step guide to envision possible lifestyles through a conversation about income goals.
- Dynamic illustrations to help people understand key concepts for retirement planning.
- Custom implementation to fit different applications and product types, including investment-only and blended investment and annuity strategies.
- Capital market assumptions.
- Account balance visualizations.
- Annuity design.
- Treatment of the annuity within the asset allocation.
- Guardrail strategies.
- Flexibility assumptions.