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Protect Your Savings

Unexpected things can happen. And those things can have an impact on your plans for the future. Once you’ve started saving for retirement, make sure you do everything you can to protect your plan. This means protecting your number with life insurance as well as managing the risks related to your investments.

Life insurance can be a valuable financial tool in retirement planning. It can help you protect your number from uncertainties in life, such as a death of a spouse. It can help ensure your financial security by helping with immediate, ongoing and future expenses such as paying your mortgage and other debts, maintaining your current lifestyle and creating a future education fund for your children. And because of its tax advantages, it can also be an effective tool in estate planning.

While some employers offer life insurance to help pay bills and take care of funeral expenses, it may not be enough to help ensure your family lives the life you planned for them. That’s where ING for Life^SM can help. Use this tool to easily evaluate your life insurance needs and explore how various ING life products might be right for your situation.

Developing an investment management strategy can also help you protect your savings from market ups and downs. When you’re younger, you can afford to take bigger risks in your diversified portfolio. But as you grow older, you may want to trade potentially higher rewards for less risk. Just make sure you understand the appropriate level of risk for your life stage. And when the market fluctuates, don’t panic. Work with your financial professional to plan the right course of action to retire the way you want.

Once you’ve figured out what you want to do when you retire, take the steps you need to make sure it is protected so it happens the way you want.

THE NUMBER, BY LEE EISENBERG, IS PUBLISHED BY FREE PRESS, A DIVISION OF SIMON & SCHUSTER, INC. PLEASE VISIT WWW.SIMONSAYS.COM AND
WWW.THENUMBERBOOK.COM FOR MORE INFORMATION ABOUT MR. EISENBERG'S BOOK. ING'S RETIREMENT SERVICES ARE UNRELATED TO MR. EISENBERG'S BOOK.

Calculator Disclaimer

The analysis provided by this tool is based soley on the information provided by you. All examples, if any, are hypothetical and for illustrative purposes and do not represent current or future performance of any specific investment. No guarantees are made as to the accuracy of any projection. This information does no serve, either directly or indirectly as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. All investments carry a degree of risk, and past performance is not a guarantee of future results. Generally speaking, the greater the return, the greater the risk.

Ted Glime

Age:

Location:

Austin, TX

Occupation:

Civil Engineer

Current Salary:

$50,000 per year

Martial Status:

Single

Number:

$1,252,561

Ted didn’t worry too much about protecting his current savings in his 401(k). He used to think that by the time he retired everything would have gone up and down and evened out in the end. But in this economy, he knows that may not be a safe assumption and is looking to other vehicles that can help provide him extra retirement income, like life insurance. In addition, Ted’s job offers a life insurance policy equal to one year’s salary but Ted has already racked up significant debt with his current lifestyle and fears that his current policy may not be enough to cover all of it and that financial burden would pass on to his family.

Robert & Denise Carreon

Age:

Both 45

Location:

Denver, CO

Occupation:

He's a lawyer, She's a teacher

Current Salary:

$175,000 per year combined

Martial Status:

Married/Two kids, 9 and 7

Number:

$2,439,189

Robert watches his investments very carefully. He’s still aggressive but has found himself investing a bit more cautiously over the last couple of years. He purchased a large life insurance policy a while ago to help replace his salary in the event of his death. Given the market uncertainty these days though, he is now re-evaluating his life insurance needs to not only protect his family from lost income after his death, but also to help with expenses while he is still living, like education costs for private school and college.. Plus, even though Denise isn’t the primary bread winner, her income and non-financial support ensures their children receive private school education as well as live the active lifestyle the family values. That’s why Denise too has a life insurance policy -- to help the family carry on in the lifestyle they are used to.

Charlie & Christine McClure

Age:

He's 64, She's 60

Location:

Holly, MI

Occupation:

Owners of a Diner

Current Salary:

$110,000

Martial Status:

Married, 3 grown children who are out of the house

Number:

$893,483

They're worried about the money they have been saving for years and years because the market kept fluctuating and they're getting close to retiring. They're also worried their home won't sell. They both have small life insurance policies to cover funeral expenses.

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