Charles Schwab announced the upcoming launch of Schwab Intelligent Income, an income solution designed for people who want a simple, modern way to pay themselves in retirement, or any other time, from their investment portfolios. Schwab Intelligent Income will help answer critical and often complex income-related questions about how much to withdraw, how to invest based on individual goals and time horizon, and how to withdraw from a combination of taxable, non-taxable, and Roth accounts in a tax-smart and efficient way. Schwab Intelligent Income is expected to launch in January 2020. Managing Income Needs While Schwab Intelligent Income can help investors with a range of short- and long-term income goals, it will meet a significant need for the millions of people planning to retire who view the process of managing income as complicated and cumbersome. According to new Schwab research, people within five years of retirement are overwhelmed by: Running out of money in retirement (72%) Determining how much they can spend in retirement (57%) Managing the tax implications of withdrawing from multiple accounts (54%) In fact, pre-retirees are more overwhelmed by these retirement income-related concerns than classic financial challenges like paying for college (27%), buying a home (33%), and losing a job(41%). Overcoming Retirement Income Complexity Schwab Intelligent Income will use the firm’s automated investing service Schwab Intelligent Portfolios® for portfolio management. For no additional fee, Schwab Intelligent Income will project, manage and automate multiple retirement income streams with a unique range of features including: Intelligent, tax smart approach that will implement a withdrawal strategy across taxable, IRA and Roth IRA accounts, Required Minimum Distribution considerations,tax loss harvesting,dividends, and income, as well as automatic portfolio rebalancing back to an investor’s target asset allocation as money is distributed from the portfolio. A real-time digital dashboard that will enable investors to easily view their portfolio, recurring withdrawal, and the probability of meeting their withdrawal goal, with the flexibility to forecast and make changes based on their income needs. Guidance tailored to generating a predictable monthly withdrawal based on an investor’s specific financial situation, delivered through a customized, tax-efficient and low-cost automated approach that keeps investors on track. Live support from Schwab investment professionals is available 24/7/365. Automatic income deposit into a Schwab High Yield Investor Checking® account (linked to a Schwab One® brokerage account) or any other external bank account. Flexibility to stop, start, and adjust the withdrawal amount, frequency, and deposit location without penalty. Ongoing monitoring and alerts that will assess real-time portfolio performance against plan and notify clients if their monthly withdrawal rate is at risk based on market movements or other factors.