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Retirement: What to expect when talking with a coach

Individuals 09.16.2020 3 MIN READ


Retirement planning may seem complicated, but when you talk with an Ayco coach, they can help you break it down into manageable steps. Your coach can guide you through the planning process and answer any questions that come up along the way.  

How do you envision spending your days in retirement?

Your conversation with an Ayco coach can help you paint a detailed picture of what you want and help you create a plan you can be confident in by combining best practices with the tools available to you.

Ayco coaches are highly trained in all things retirement planning (from 401(k)s to IRAs and healthcare to Medicare) and your company’s benefits.

Getting to know you

To understand where you stand financially today, your coach will ask questions to get to know you,  your current situation and your future goals. You can expect questions like the ones below, but you don’t have to have all of the answers when you call; your coach will guide the conversation and tailor your discussion based on your needs and experience.

  • Do you share your finances with anyone? If you combine finances with a spouse or partner, their retirement plan will have an impact on yours and vice versa.
  • Who depends on you? If you have dependents, goals like education funding or financially supporting others may impact your total income need in retirement.
  • Have you put any thought into when you plan to retire? Knowing how long you have to work and save are critical to your retirement plan. Depending on how far from retirement you are, there are certain actions you should be taking. For more on this, refer to our resource, Retirement Planning for All Ages.
  • Can you tell me about how you currently earn money? Your pay structure includes your salary, bonuses and other sources of income (like rental properties, investments and part-time work). You’ll also want to take your spouse or partners’ pay structure into account, if applicable.
  • What do you expect your expenses to be in retirement? Your coach will help you estimate your retirement income need, including potential decreases (if you anticipate paying off your mortgage) and potential increases (as we tend to see with retiree medical expenses). If you aren’t sure, don’t worry. Your coach will have some insights to help you figure it out.
  • Which types of accounts do you have that could help fund your retirement? This could include 401(k)s, IRAs, emergency funds, health savings accounts (HSAs), brokerage accounts, pensions and other savings accounts.
  • Have you thought about when you’ll start taking Social Security? You can start collecting your Social Security benefit as early as age 62 or as late as age 70. Keep in mind, the later you start, the more you’ll receive in each payment. You can view your Social Security statement by visiting

What will you receive from your call?

If you’re approaching retirement
If you are closing in on your retirement age, your coach may complete a retirement analysis with you and send you your full report following your call. The retirement analysis summarizes your current situation, including income and accounts, and projects your future income need each year throughout retirement. You will be able to see if you’re on track for your goals. If you’re not, you will also be able to project the potential impact of some changes that you may make, including saving more or retiring at a later date.

No matter your age

It’s never too early to have a plan! Your coach will help you understand how all the pieces fit together, including the impact your employee benefits and your investments have on your retirement plans. You can complete a risk tolerance assessment and compare your current investments with a diversified portfolio that may be appropriate given your goals, time horizon and comfort level with risk.

Ok, but how is this going to impact my life?

From basic to complex, your coach will meet you where you are in your financial life and explain concepts in a way that you understand. Our goal is for you to leave every call with a better sense of where you are now, a plan of action to get you where you want to go and a solid relationship with a coach who can stand by your side on the journey.

If you have Ayco as a company benefit, register or log in to learn more about this and other financial wellness topics. If you’re not sure whether your company offers Ayco Financial Counseling, contact your human resources representative.



For disclosures relating to this article, please click here.