As a participant in your employer’s retirement plan, you are always in control of and responsible for making investment decisions. After enrolling in the plan, you can select your investments using various methods to accommodate your desired goals and risk tolerance. Your plan offers investments that you can select using various methods.
The Managed Account Feature or Goals-Based investment, is a feature that some plans offer. A plan’s investment fiduciary has selected investment options for your plan and, based on information that you or your employer provide to Vestwell, the feature displays a possible investment allocation. You can accept the allocation or change the inputs (current salary, retirement age, retirement income goal, risk tolerance, social security, and/or outside accounts) at any time to get a revised allocation from the Goals Optimization Engine (“GOE”). Executing the suggestions in your goal feedback gap, if any are provided, will also create an updated allocation from GOE which may help meet your stated retirement income goal.
See our article "How Do I Make Investment Elections" to learn more.
Why Is My Retirement Income Projection $0?
There are two reasons why your Retirement Income Projection could show $0.
- You have not set your savings amount.
- You still need to add outside accounts.
How To Resolve $0 Retirement Income Projection?
Set Your Savings Amount
To set your savings amount:
- Navigate to the home page of your saver portal.
- Under "Savings Rates," select Change Savings.
- Modify your savings amount, then click Save Amounts.
- A pop-up screen will show you your savings before and after the changes. Select Apply Changes to complete.
Add Outside Accounts
With a goal-based investment strategy, you have the option to include Social Security and outside accounts, such as non-Vestwell savings, retirement, or brokerage accounts, in your retirement income projection.
To add outside accounts:
- Select Adjust Inputs from the "Goal Inputs" control panel.
- If you would like to add Social Security, click the "Include" checkbox. You will be prompted to select what age you would like to draw Social Security. The minimum age is 62 and the maximum age is 70.
- If you would like to add outside accounts, select Add Account, choose the account type, and enter the account balance.
- Select Apply Changes.
A summary window will display the changes to your account. To learn more, visit our article "How Do I Make Investment Elections?"
If you need further assistance, please contact us directly at help@vestwell.com.