Quick Guide to Retirement Planning: Living in Retirement

Congratulations on reaching retirement! Your financial journey, however, is a long way from over. The transition into retirement requires a huge shift in your financial thinking—from years of accumulating assets, to now finding the most efficient and effective way to convert those assets into a lifetime’s worth of income. It requires:

  • A clear understanding of your retirement goals and the income required to fund them;
  • A careful assessment of all your potential income sources; and
  • Strategies to minimize the various risks associated with retirement

What are your biggest risks in retirement?

  • Longevity risk — the risk that you may outlive your assets. Today, the potential of a retirement lasting 30 years or longer is higher than ever before.
  • Inflation risk — when you worked, your salary typically increased to at least keep pace with inflation. Your retirement savings, however, won’t have that same protection. You should invest at least a portion of your money in stocks, which historically have had the best performance over long time frames.
  • Market risk — once you begin taking income from your investments, the performance of the market early on in your retirement is critical. Poor market returns in the first few years of retirement can have a dramatic impact on the ability of your savings to last.
  • Withdrawal risk — numerous studies show that new retirees tend to spend excessively in the first few years of retirement, putting their future years at risk.

A SunTrust Investment Services advisor can help you address these and other risks by building a sustainable retirement income plan. To learn more, call 877.962.9032.

How will taxes and inflation affect your savings?

Use this handy calculator to estimate the impact of inflation and taxes on your retirement savings.


Contact the STIS Client Advisory Center

Find a SunTrust Location


Investing & Retirement Resource Center

  • Will Caring for Aging Parents Threaten Your Retirement?

    The financial obligations associated with caring for an aging parent can often coincide with other priorities. Of course you want to help out when possible; just don’t jeopardize your own future.

  • A Fresh Perspective on Retirement Income

    Faced with the potential to live 30+ years in retirement, the traditional approach to retirement income may no longer make sense.

  • Big Life Change? Three Retirement Rules of Thumb to Follow

    Big life changes can dramatically change how much money you’re able to save each month. Keep in mind these rules of thumb when life shakes things up.

  • Staying on Track with Your Retirement Investments

    Investing for your retirement over the long term takes a little knowledge and discipline. Though there can be no guarantee that any investment strategy will be successful—and all investing involves risk—there are ways to help yourself build your retirement cushion.

  • Donor Advised Funds: Family Giving Made Easy

    In 2014, Americans gave more than $358 billion to charity with nearly three-quarters of that amount coming directly from individuals. And while much of these donations come in the form of direct cash gifts, more and more individuals are turning to planned.