The years just before retirement are among the most anxious years for your clients — especially given today's uncertain financial climate. In fact, clients are likely asking you questions such as:
- Have I saved enough?
- Will it be enough to live the life I've imagined?
- What can I do to make up any shortfalls?
They need clarity and your guidance to help them figure out where they are today and where they need to be. More precisely they need to know: How much annual income could my savings generate in retirement?
It's Time for a New Conversation: Introducing BlackRock's CoRI Retirement Indexes
With people living longer, the need for accurate information is more crucial than ever to securing a confident retirement. The CoRI Retirement Indexes give you a new way to cut through the clutter and frame these important pre-retirement conversations in simple, clear and compelling terms.
CoRI Retirement Indexes Bring You the Best of BlackRock
BlackRock's CoRI Retirement Indexes (CoRI Indexes) give you a new way to frame these important pre-retirement conversations in simple, clear and compelling terms. These Indexes provide a quick way to estimate what it will cost today for each dollar of annual income in retirement. The CoRI Indexes are a set of ten Indexes — one each for investors between the ages of 55-64. To use them with clients, select the CoRI Index that matches the year your client turns 65. For example, for a 55-year-old in 2013, you would select the CoRI Index 2023, while for a 59-year-old you would select the CoRI Index 2019. A CoRI Index level of $15.31 means that $1 of lifetime retirement income beginning at age 65 would cost $15.31 today.
To help clients use the CoRI Retirement Indexes quickly and effectively, BlackRock has developed an online tool — CoRI. Clients only need to provide their age and size of their retirement savings and CoRI does the work. By using CoRI, your clients will finally be able to clearly see today's dollars in tomorrow's terms.
Put CoRI to Work for Your Practice
- Kick-start the conversation with clients who are approaching retirement
- Take advantage of BlackRock tools to support pre-retirement planning discussions
- Review pre-retirement actionable ideas and think about how you can integrate CoRI into your firm's retirement planning process