Sample Retirement Plan: A Practical Guide to Income, Taxes, and Risk

Key Takeaways

This article walks through a concrete sample retirement plan for a couple retiring in 2028, focusing on income planning, taxes, and risk management. You’ll see exactly how the pieces fit together in a real-world scenario you can adapt to your own situation.

• Retirement success depends not just on how much you saved, but on how you turn those savings into reliable income while managing sequence of returns risk, taxes, and longevity risk.

• Annuities can provide guaranteed lifetime income when used correctly, and this article shows where they may fit in a sample plan without over-relying on them.

• Revolutionary Wealth specializes in retirement income planning and uses a proprietary Retirement Efficiency Scorecard to measure income clarity, tax exposure, risk tolerance, and estate readiness.

• You’ll leave with a simple step-by-step framework you can adapt to your own finances and an invitation to request your personalizedRetirement Efficiency Scorecard.

Introduction: What a “Sample Retirement Plan” Really Looks Like

Meet Mark (64) and Linda (62) Johnson. As employees, they participated in employer-sponsored retirement plans, making regular employee contributions over the years. They’ve been working for decades, contributing to their retirement plans, and now they’re planning to retire on January 1, 2028. Their retirement savings grew through consistent annual contributions made as employees to their retirement accounts. Their story isn’t unique—but their approach to planning can be.

This sample retirement plan is not a theoretical spreadsheet. It’s a coordinated strategy that brings together Social Security, investments, annuities, taxes, and estate planning into one cohesive picture. While the numbers and dates are for illustration only (retirement at 65, planning horizon to age 95), the principles apply broadly to anyone looking to create a sustainable retirement income.

Revolutionary Wealth views retirement as a multi-decade income project, not simply a savings goal. Every recommendation in the Johnsons’ plan is framed around income reliability and tax efficiency. The rest of this article walks step-by-step through how their sample retirement plan is designed and how you can evaluate your own using the Retirement Efficiency Scorecard.

Understanding Retirement Plan Types

When it comes to building a secure financial future, understanding the different types of retirement plans is the first step toward making smart decisions about your retirement savings. The landscape of retirement plans types can seem complex, but breaking them down into two main categories—defined benefit plans and defined contribution plans—makes it easier to see how each one supports your long-term goals.

Defined benefit plansare often known as traditional pensions. With these plans, your employer promises a specific monthly benefit when you retire, usually calculated based on your salary and years of service. For example, a plan might pay you 1% of your average salary over your last five years of employment, multiplied by your total years of service. This type of plan provides predictable income, but is less common today, especially in the private sector.

Defined contribution plansare now the most widely used retirement savings vehicles. Instead of guaranteeing a set payout, these plans—like 401(k)s, 403(b)s, and Roth IRAs—allow you and sometimes your employer to make annual contributions to your individual account. The money in your account grows based on your investment choices, and your retirement income depends on how much you contribute, the performance of your investments, and any gains or losses along the way. For instance, a Roth IRA lets you contribute after-tax dollars, and your money grows tax-free, giving you tax-free withdrawals in retirement.

Social Securityis another cornerstone of retirement planning. The amount you receive depends on your earnings history and the age at which you decide to start benefits. Deciding when to claim Social Security is a key factor in maximizing your retirement income, so it’s important to calculate your expected benefits and consider how they fit into your overall plan.

Long term care insuranceis also an important piece of the puzzle. As people live longer, the risk of needing extended care increases. Long term care insurance helps protect your retirement savings and ensures you have access to quality care if you face a prolonged illness or disability.

When creating your retirement plan, consider all the factors that affect your finances: your current income, expected expenses, assets, and investment options. Calculate how much money you’ll need to cover essentials like housing, food, transportation, and healthcare. Think about your risk tolerance and choose a mix of investments—such as stocks, bonds, and mutual funds—that matches your comfort level and retirement timeline.

If your employer offers a retirement plan, such as a 401(k), take full advantage of it—especially if there’s a matching contribution. Contributing enough to get the full employer match is like getting free money added to your retirement savings. For broader guidance on investment management, retirement, tax, and estate planning, you can draw oncomprehensive wealth management resourcesas you refine your strategy. Remember to review your plan regularly, track your progress, and make adjustments as your life and goals change.

In summary, understanding the different types of retirement plans and the factors that influence your retirement savings is essential for creating a plan that supports your goals. By staying informed, making regular contributions, and reviewing your plan over time, you can protect your assets, manage risk, and build a retirement that meets your needs. Don’t hesitate to seek professional advice to help you create, track, and update your retirement plan as your circumstances evolve.

Step 1: Establish Your Retirement Snapshot (2024–2028)

Every sample retirement plan starts with a clear “snapshot” of where you are today and when you expect to retire. Think of this as your financial baseline—the foundation everything else builds upon.

The Johnsons’ Profile:

• Ages in 2024: Mark is 64, Linda is 62

• Planned retirement date: January 1, 2028 (Mark at 68, Linda at 66)

• Planning horizon: To age 95 for both

Current Retirement Savings:

• Mark’s 401(k): $850,000 (pretax)

• Linda’s 403(b): $260,000 (pretax)

• Combined Roth IRA accounts: $120,000

• Taxable brokerage account: $180,000

• Total investable assets: approximately $1,410,000

Income and Spending:

• Current combined salary: $110,000

• Target retirement spending goal: $85,000 per year after tax (in today’s dollars, excluding one-time large purchases)

To create your own snapshot, gather your account balances, estimate your Social Security benefits using the SSA website, and determine how much money you’ll need each year to support the lifestyle you want. This data becomes the raw material for every decision that follows.

Retirement savings calculators are valuable tools for estimating how much you need to save for retirement. Thesecalculators and other financial toolscan provide a summary of your expected retirement savings and expenses, and typically require inputs such as your current age, planned retirement age, and current savings amount. Many calculators also account for inflation rates when estimating future savings needs. Running these calculations allows you to test different scenarios and refine your sample retirement plan for greater accuracy and confidence.

Step 2: Map Out Core Retirement Expenses

Knowing your “must-have” versus “nice-to-have” expenses is the foundation of any retirement income plan. This distinction determines which income sources should cover which costs—and how much flexibility you actually have when markets turn volatile.

Essential Expenses (Non-Negotiable):

• Housing (property taxes, insurance, maintenance—mortgage is paid off): $18,000/year

• Utilities and basic services: $4,800/year

• Groceries and household supplies: $9,600/year

• Health insurance and medical costs: $12,000/year

• Basic transportation: $6,000/year

• Insurance (auto, umbrella): $3,600/year

• Other essentials: $6,000/year

• Total essentials: approximately $60,000/year (in 2028 dollars)

Discretionary Expenses (Flexible):

• Travel: $15,000/year

• Hobbies, entertainment, dining out: $7,000/year

• Gifts and charitable giving: $3,000/year

• Total discretionary: approximately $25,000/year

The Johnsons’ plan aims to cover essential expenses as much as possible with predictable income sources like Social Security, pensions, and annuity income. Discretionary spending can be funded from investment withdrawals, which provides built-in flexibility.

Health Care and Long-Term Care Costs

Health care is one of the most underestimated retirement costs. According to Fidelity estimates, a couple retiring at 65 may need approximately $315,000 for healthcare alone through age 90. Ignoring this factor can derail even well-funded retirement plans.

The Johnsons’ Healthcare Assumptions:

• Both enroll in Medicare at 65

• Combined Medicare Part B, Part D, Medigap, and out-of-pocket costs: $9,000–$12,000 per year starting at 65

• Healthcare inflation assumption: 5-7% annually (outpacing general inflation of 2-3%)

If Mark or Linda retired before 65, they would need ACA marketplace coverage for 1-3 years. Premiums depend heavily on income, making tax planning strategies like Roth conversions critical during this gap period.

Long-term care insurance deserves special attention. A three-year assisted living stay can cost $60,000–$90,000 per year. The Johnsons’ sample plan considers three options:

• Traditional LTC insurance policies

• Hybrid life/LTC policies that provide death benefits if care isn’t needed

• Self-funding from assets (requires larger portfolio reserves)

Lifestyle and Travel Spending

Retirement spending often follows a “go-go, slow-go, no-go” pattern. Retirees typically spend more in their active early years, then naturally reduce spending as they age.

The Johnsons’ Discretionary Plan:

• Ages 65–75: Budget $15,000/year for travel and $10,000/year for hobbies and entertainment

• After age 75: Plan for a 25–30% reduction in discretionary spending

• Maintain flexibility to temporarily trim travel if markets perform poorly

This discretionary spending flexibility is a key buffer against sequence of returns risk. Instead of selling investments at a loss to fund a vacation, the Johnsons can simply postpone that trip until their portfolio recovers, aligning their choices withlifestyle-focused financial planningthat balances money decisions with quality of life.

Think about your own “joy spending.” Which items truly matter to you, and which could you reduce during market stress without significantly impacting your happiness?

Step 3: Understand Your Retirement Income Sources

A sample retirement plan is really a coordinated income map: Social Security, pensions, annuities, and investment withdrawals working together. Understanding the key terms used to describe retirement plan types—such as defined benefit and defined contribution plans—is essential for making informed decisions. Each source has different tax treatment, timing options, and reliability characteristics. Employer-sponsored accounts like a 401(k) provide tax-deferred growth and often include matching contributions. A comprehensive retirement plan includes both employer-sponsored accounts such as 401(k)s and personal IRAs.

The Johnsons’ Income Sources:

The Retirement Efficiency Scorecard from Revolutionary Wealth evaluates how aligned your secure income sources are with your essential expenses and highlights any shortfalls that need addressing, reflecting the firm’s broader mission totransform how individuals build, protect, and transfer wealth.

Social Security Timing Strategy

Social Security claiming decisions are among the most impactful and irreversible retirement choices. Delaying benefits from full retirement age (67) to age 70 increases monthly payments by approximately 76%.

The Johnsons’ Strategy:

• Linda claims at 67 (2029) to provide baseline income during the early retirement years

• Mark delays until 70 (2030) to maximize the higher earner’s benefit and survivor protection

• Combined annual benefit at age 70: approximately $68,000 in today’s dollars

This approach covers a large portion of their $60,000 essential expenses with guaranteed income. Delaying Social Security is essentially longevity insurance—if Mark lives into his 90s, those higher payments continue for decades. It also reduces pressure on investment withdrawals later in life.

However, this strategy may not suit every situation. Health concerns or immediate cash-flow needs might make earlier claiming more appropriate. This is exactly the type of trade-off the Retirement Efficiency Scorecard helps you evaluate.

Pensions and Other Guaranteed Income

Traditional pensions act like private annuities and are valuable anchors in any income plan. Linda’s pension provides $900/month ($10,800/year) with a 50% survivor benefit and no cost-of-living adjustment (COLA).

Key Pension Decisions:

• Should Linda take the pension or a lump sum if offered?

• Is the 50% survivor benefit adequate, or should they consider a 100% option (with lower monthly payments)?

• How does the lack of inflation adjustment affect purchasing power over 30 years?

Other predictable income sources—like rental income from investment property or part-time work in early retirement—can reduce early withdrawal needs and provide an additional buffer against sequence of returns risk. The Johnsons aren’t planning on part-time work, but many retirees find that even modest earnings of $10,000–$20,000 annually in the first few years dramatically improves long-term portfolio survival.

Step 4: Manage Investment Risks, Especially Sequence of Returns Risk

Sequence of returns risk is the danger of getting poor market returns in the first 5–10 years of retirement while making withdrawals. Two retirees with identical average returns but different early-year results can end up with dramatically different outcomes by age 85.

A Concrete Example:

A simulation starting in 2000 with a 60/40 stock-bond portfolio and 4% annual withdrawals exhausted funds in under 25 years. The same portfolio starting in a bull market lasted over 40 years. Research shows that negative first-year returns exceeding -10% reduce portfolio longevity by up to 8 years on average.

The Johnsons’ Investment Mix (2028):

• 50% stocks (diversified across domestic and international index funds with low fees)

• 40% bonds (investment-grade, intermediate duration)

• 10% short-term cash and CDs (immediate liquidity)

• Gradual shift to 40/50/10 through their 70s

Revolutionary Wealth uses structured “buckets” or “time segments” to reduce the need to sell stocks in down markets, an approach implemented by their specializedretirement planning and advisory team:

• Bucket 1 (Years 0–5):Conservative assets covering 5 years of expenses

• Bucket 2 (Years 6–15):Balanced funds for medium-term needs

• Bucket 3 (Years 16+):Growth-oriented investments for long-term purchasing power

Longevity Risk: Planning to Age 95 and Beyond

Many 65-year-olds today have a high probability of at least one spouse living into their 90s. Statistics from the Society of Actuaries indicate a 65-year-old couple has a 65% chance that one spouse lives to 90. Thirty-year retirements are no longer unusual—they’re increasingly common.

The Johnsons’ Longevity Approach:

• All projections run through age 95

• Stress-tested to age 100 to ensure income durability

• Withdrawal rates kept sustainable (targeting 4-5% adjusted for market performance)

Longevity risk interacts dangerously with sequence of returns and inflation. Regularly taking more than 5–6% of portfolio value—especially in early retirement—dramatically increases the probability of running out of money. This is why the Johnsons incorporate annuities and delayed Social Security as tools to directly address the risk of outliving their assets.

Think of your retirement plan not as a 10–15 year “bridge” to some final destination, but as a full lifelong strategy that may need several mid-course corrections along the way.

Tax Risk: Planning Around Today’s and Future Rates

Tax risk is the possibility that future tax rates rise or your own taxable income unexpectedly spikes in retirement. Current individual income tax rates from the 2017 Tax Cuts and Jobs Act are scheduled to expire after 2025, potentially raising rates starting in 2026 unless Congress acts.

The Johnsons’ Tax Strategy:

• Intentionally draw down some traditional IRA/401(k) assets in their 60s (before Required Minimum Distributions begin at age 73)

• Execute Roth conversions of $50,000–$60,000 annually in low-income years (2026–2029) to fill lower tax brackets

• Coordinate withdrawals to keep income below thresholds that trigger higher Social Security taxation

Case studies show that strategic Roth conversions can reduce lifetime taxes by 25% or more. The Retirement Efficiency Scorecard from Revolutionary Wealth evaluates the percentage of your assets in tax-deferred, tax-free, and taxable accounts to highlight tax exposure.

Smart tax sequencing can increase net lifetime income without requiring higher investment returns. This makes taxes a key planning lever—not an afterthought.

Step 5: How Annuities Fit Into a Sample Retirement Income Plan

Annuities are insurance contracts that can convert a portion of retirement savings into guaranteed income for life or a set period. They’re tools, not products to be bought indiscriminately.

Main Types for Income Planning:

• Immediate income annuities (SPIA):Convert a lump sum into payments starting within one year

• Deferred income annuities (DIA):Purchase now, receive income starting years later (often more cost-efficient)

• Fixed indexed annuities with income riders:Link to market indices with downside protection; riders guarantee withdrawals regardless of account value

In the Johnsons’ Sample Plan:

At age 67, a portion of their IRA ($250,000) is allocated to a deferred income annuity designed to begin lifetime payments at age 75. This creates a second “income floor” later in retirement—specifically intended to cover health care and basic living costs after age 75 when portfolio recovery from market downturns becomes harder.

Revolutionary Wealth evaluates annuities strictly as tools within a broader plan, comparing their internal rates of return and guarantees to other options rather than treating them as stand-alone products.

Pros and Cons of Using Annuities for Income

Annuities are often misunderstood. A sample retirement plan is the perfect way to show where they help and where they may not fit.

Potential Benefits:

• Guaranteed lifetime income that you cannot outlive

• Protection from longevity risk transferred to an insurance company

• Potential to support higher equity exposure elsewhere (your “floor” is secure)

• Psychological peace of mind knowing essentials are covered

Key Trade-offs:

• Loss of liquidity on the portion annuitized (money is locked up)

• Fees and surrender charges on some contracts (especially variable annuities with riders at 1-2% annually)

• Complexity of riders and guarantees requires careful evaluation

• Insurer credit risk (mitigated by choosing strong companies rated A or higher)

The Johnsons’ plan does not annuitize all their savings. Instead, it combines Social Security, a targeted annuity covering about 18% of their portfolio, and a flexible investment portfolio for balance. Revolutionary Wealth serves as a guide to sorting through if and how annuities belong in your specific strategy.

Step 6: Pulling It Together – The Johnsons’ Year-by-Year Income Picture

A retirement plan comes alive when you view it year-by-year. Here’s how income flows for the Johnsons:

Early Retirement Years (2028–2030, Ages 66–70):

• Linda’s pension: $10,800/year

• Linda’s Social Security (starting 2029): $24,000/year

• Portfolio withdrawals: $45,000–$50,000/year

• Total gross income: approximately $75,000–$85,000

Middle Years (2030–2040, Ages 70–80):

• Combined Social Security: approximately $68,000/year

• Linda’s pension: $10,800/year

• Portfolio withdrawals: approximately $20,000–$27,000/year

• Total gross income: approximately $95,000–$105,000

Later Years (2040+, Ages 80–95):

• Combined Social Security (inflation-adjusted): approximately $80,000+/year

• Annuity income (starting age 75): approximately $15,000–$18,000/year

• Linda’s pension: $10,800/year

• Reduced portfolio withdrawals: $10,000–$15,000/year

For individuals aged 50 or older, it's important to note that in 2026, you can make an additional catch-up contribution of $8,000 to 401(k) plans, with a total contribution limit of $24,500. Using a chart to visualize year-by-year income and expenses can help track progress and identify any gaps in your sample retirement plan.

The plan builds in flexibility using a “guardrails” approach: withdrawals can be trimmed 10-20% after poor market years and increased modestly after strong years to preserve sustainability. Revolutionary Wealth tests the sample plan under multiple market and longevity scenarios using Monte Carlo analysis, then distills findings into an easy-to-read summary for clients.

Estate and Legacy Considerations

A complete retirement plan looks beyond your lifetime to how efficiently assets transition to heirs or charities. The Johnsons want to leave at least $300,000 in today’s dollars to their two children.

Estate Planning Elements:

• Balance between annuitizing income (which provides security but depletes assets) versus keeping assets invested (for growth and legacy)

• Updated wills, powers of attorney, and health care directives

• Reviewed beneficiary designations on IRAs, annuities, and life insurance

• Roth accounts and certain life insurance strategies for tax-efficient wealth transfer

• Using an LLC (Limited Liability Company) can be a strategic tool for protecting assets and facilitating business succession as part of an estate plan.

• Understanding the legal rights of heirs and beneficiaries is essential for effective estate planning.

The Retirement Efficiency Scorecard includes an estate planning checkpoint that highlights gaps—outdated documents, misaligned beneficiaries, or missing directives—for you to address with an estate planning attorney.

How Revolutionary Wealth’sRetirement Efficiency ScorecardHelps You

TheRetirement Efficiency Scorecardis a structured way to measure where you stand relative to the Johnsons’ sample model. It transforms complex retirement data into actionable insights. Each key area is treated as a separate topic, helping you focus on specific aspects of retirement planning.

Four Key Areas Evaluated:

1. Retirement Income Clarity:How well do your income sources match your essential expenses?

2. Tax Exposure:What’s your balance of tax-deferred versus tax-free assets? Are you vulnerable to future rate changes?

3. Risk Alignment:How protected are you against sequence of returns, longevity, and investment risk?

4. Estate Readiness:Are your documents current? Are beneficiaries properly coordinated?

The Process:

You answer questions about your current situation (types of planning you’ve done, income sources, retirement goals), Revolutionary Wealth runs scenario analysis, and then presents a color-coded summary with specific next-step recommendations. The Scorecard is not a product pitch—it’s a diagnostic tool used in an educational conversation, often supported byretirement and financial education videosand reinforced by theirpersonalized, proactive planning approach.

Revolutionary Wealth positions itself as the premier specialist in retirement income planning. Their all-under-one-roof model integrates financial planning, investment management, tax strategies, and estate planning through dedicated certified financial planners, tax advisors, wealth coordinators, and an investment board. This delivers seamless, personalized service focused on turning assets into reliable, tax-efficient income for life. If you have questions or want guidance on your sample retirement plan, talk with a financial advisor or specialist to discuss your unique needs.

Call to Action: Build Your Own Retirement Income Blueprint

Reading about the Johnsons’ sample retirement plan is valuable. But understanding your own situation is what truly matters.

Start your Retirement Efficiency Scorecard** from Revolutionary Wealth.** All you have to do is click the link to get started. There’s no obligation to meet with us—the purpose is to give you clarity about income, taxes, risk, and legacy under multiple scenarios and help you understand where you stand.

Thoughtful planning today can turn uncertainty about retirement into a clear, flexible income strategy for the decades ahead. Take action now.

Frequently Asked Questions

How much savings do I need before an income-focused retirement plan makes sense?

Income planning is valuable for almost any retiree, but it becomes especially important once a household has at least $250,000–$300,000 in combined retirement savings or multiple income sources to coordinate. The principles in this sample plan—expense mapping, Social Security timing, tax sequencing, and risk management—apply even to smaller balances and can help reduce the chance of running out of money. Revolutionary Wealth tailors the depth of analysis in the Retirement Efficiency Scorecard to the size and complexity of each household’s situation.

What if I plan to work part-time in retirement—does that change the sample plan approach?

Part-time work typically allows lower early withdrawals, which can significantly reduce sequence of returns risk. It may also allow you to delay Social Security for a higher benefit and create a window for tax-advantaged Roth conversions. The main steps in the sample plan stay the same, but income timelines and tax planning windows will be adjusted around your expected work income. Include your anticipated part-time earnings and retirement dates when requesting your Retirement Efficiency Scorecard so it can be modeled accurately.

Can I still benefit from this planning if I am already retired?

Many retirees come to Revolutionary Wealth several years after retiring, and it’s rarely “too late” to improve tax efficiency, adjust withdrawal strategies, or add guaranteed income where appropriate. For those already retired, the focus often shifts to optimizing Social Security benefits already in place, managing Required Minimum Distributions, and smoothing taxes over remaining retirement years. The same framework—expenses, income sources, risk, and estate—still applies, and the Scorecard simply uses your current age and situation as the new starting point.

How often should a retirement income plan be reviewed and adjusted?

Plan for a formal review at least once per year, with additional check-ins after major life events such as a spouse’s death, serious illness, sale of a business, or large inheritance. Markets, tax laws, spending needs, and health status all change over time, so what worked at age 65 may not be ideal at 75 or 85. Revolutionary Wealth designs plans with built-in flexibility and uses periodic updates to the Retirement Efficiency Scorecard to keep clients on track throughout retirement.

Are annuities always necessary in a strong retirement income plan?

No, annuities are not mandatory. They are one tool among many for creating reliable income and managing longevity risk. In some cases, strong pensions and Social Security benefits already cover essential expenses, allowing more flexibility to rely on investment withdrawals without additional guarantees. Revolutionary Wealth evaluates whether an annuity adds value to your specific plan. If the analysis shows that it does not materially improve outcomes, it simply won’t be recommended.

Disclosures:

This blog contains general information that may not be suitable for everyone. The information contained herein should not be construed as personalized investment advice. There is no guarantee that the views and opinions expressed in this blog will come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security. Revolutionary Wealth LLC does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance.Past performance is no guarantee of future results.

Not associated with or endorsed by the Social Security Administration, Medicare or any other government agency.

Maximizing your Social Security Benefits assumes foreknowledge of your date of death. If as an example you wait to claim a higher monthly benefit amount but predecease your average life expectancy, it would have been better to claim your benefits at an earlier age with reduced benefits.

Converting an employer plan account or Traditional IRA to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including but not limited to, a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefits and higher Medicare premiums. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.

Fixed Annuities are long term insurance contracts and there is a surrender charge imposed generally during the first 5 to 7 years that you own the annuity contract. Indexed annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Investors are cautioned to carefully review an indexed annuity for its features, costs, risks, and how the variables are calculated. Any guarantees offered are backed by the financial strength of the insurance company. Surrender charges apply if not held to the end of the term. Withdrawals are taxed as ordinary income and, if taken prior to 59 ½, a 10% federal tax penalty.

The projections or other information generated by Monte Carlo analysis tools regarding the likelihood of various investment outcomes are hypothetical in nature, are based on assumptions that you provide which could prove to be inaccurate over time, do not reflect actual investment results, and are not guarantees of future results. Results may vary with each use and over time.