Teacher dreams of retiring on the open road …

“So many people plan on traveling around Europe when they retire. My husband and I want to look around the U.S. first, since it already has some of the best views in the world!”
Sharon believes that she’ll be an educator under the Florida Retirement System until she retires. After using the resources available to her and asking a lot of questions, she chose to stay in the Pension Plan. Now that she’s had a chance to check out the Advisor Service at MyFRS.com, she has a pretty good idea of when she and her husband can retire and how much annual income they’ll need in retirement.
“The Advisor Service was easy-to-use. Since my Pension Plan benefits are already loaded into the service, all I had to do was add information about my husband’s 401(k) plan,” Sharon explains.
“The Advisor Service took this information and gave us a ‘Forecast,’ which told us our chance of reaching our retirement income goals. Since my husband’s 401(k) plan doesn’t offer this type of guidance, we chose to get specific investment recommendations on his plan. I then called the MyFRS Financial Guidance Line and asked the Ernst & Young financial planner some questions about our Forecast. Using the information on my husband’s available 401(k) investment fund choices, she helped us decide how much to put in each fund and gave us a revised Forecast. After changing my husband’s fund mix and by saving just a bit more each year, we think we’ll have a better chance of getting where we want to be when we retire.”
More about Sharon …
  • Age 45
  • 20 years of FRS service
  • Teaches elementary school
  • Is saving up for a sports car and an RV
/ The MyFRS Financial Guidance Program says …
Happy travels! Sharon and her husband improved the chances of reaching their retirement income goal by saving more each year and by making some modest fund changes to her husband’s 401(k) plan.
Some FRS members may want help using the Advisor Service or understanding what the guidance means. The MyFRS Financial Guidance Line can help guide you through the Advisor Service and can help interpret the recommendations, if necessary. The two resources — the Advisor Service and the MyFRS Financial Guidance Line — can work together to help you get your retirement income planning on track.