Still River plans to introduce a prototype of the new system by the end of 2004 and more comprehensive versions in 2005 and 2006. Key to its success will be the involvement of retirees or prospective retirees, who will collect their own relevant financial information.
Typical questions for the new software solution include what do about pensions, Social Security, medical and long-term care insurance, asset reallocation, life insurance and annuities, expense adjustments, the use of home equity and what to do with a family business or farm. Currently, such questions are usually analyzed individually, but since each has an impact on the others, and since they all tend to arise at the moment of retirement, the best strategy is to consider them together and make integrated recommendations, the company said in its news release.
For more information, go to www.StillRiverRetire.com .