Lifetime Income Model™ This is a "hypothetical example" and is not representative of any specific situation. Patricia and Bob are within a decade of retirement. Their son is a few years into his own career and their daughter will graduate from college next year. The couple is debt free, but paying their mortgage and the kids’ education expenses impacted what they could save for themselves.While Patricia has always leaned more conservatively with their investments, Bob is much more aggressive. Her priority is avoiding losses and keeping up with inflation. He wants to make as much money as possible with stocks. If there’s one thing they agree on, it’s that they must start preparing financially for when they’re no longer working.When they come to Phronesis Wealth Management in Severna Park, their advisor will strive to lay out a path to create a stream of income based on realistic retirement distributions. Other advisory firms might only factor in the client’s age. We consider how your personal situation influences the investment strategy. Your needs, goals and risk tolerance determine the amount of assets, their allocation mix and the time horizon for holding them.Upon learning all about Patricia and Bob, their advisor aims to determine the answers to three questions.Which assets should they use first?Do they have enough money saved?And, are their assets allocated in the right places?Patricia and Bob are in their early sixties and have no health problems, so there’s a very real chance they may live for another 30 years. Their advisor will seek to position some assets for current needs while investing other assets so they have growth potential for future needs.For example, Patricia and Bob might have a portfolio earmarked for current spending, as well as four other portfolio baskets that each address the financial needs of later and later time spans. This allows them to take needed income from a fixed asset portfolio. It also gives the other portfolios the time needed for growth potential so they can address future income needs in later years. This is a hypothetical example and is not representative of any specific situation. Your results will vary. Please contact a financial professional for your specific situation.