Patent ID: 8326728

Claim:
A method comprising: receiving, by a computing device, a target income mix for a user, wherein the target income mix is expressed as a set of weights in a portfolio of one or more classes of income generating products, wherein one or more weights of the set of weights correspond to a first income need for essential expenses for the user during retirement and one or more remaining weights of the set correspond to a second income need for discretionary expenses for the user during retirement; receiving, by the computing device, information about available assets for the user and their account location; determining, by the computing device, using the set of weights of the target income mix, initial purchase amounts from the user's available assets for the one or more classes of income generating products; determining, by the computing device, an amount of income that the one or more classes of income generating products are projected to produce throughout the user's retirement; comparing, by the computing device, the first income need and second income need to the amount of income projected to be produced by the one or more classes of income generating products purchased using the initial purchase amounts; and adjusting, by the computing device, the initial purchase amounts for each of the one or more classes of income generating products until the portfolio of the one or more classes of income generating products is projected to produce during retirement enough after-tax income to (i) meet the first income need at a first predetermined confidence level or return assumption and (ii) meet the first income need and the second income need at a second predetermined confidence level.