Vanguard’s approach to retirement income

Each participant’s goals, risk tolerance, and resources are different and their health, longevity, and tax situations unique. That's why no single investment on its own is equipped to meet participants' retirement income needs. And that’s why, in addition to investments, we provide spending services, guidance and advice, and access to annuities.

Through this comprehensive approach, we’re able to support participants across a wide range of needs as they navigate retirement income. They can change how they manage their personal plans as life happens or if they change their mind. They don’t need to use every tool to unlock their retirement income.

Investment strategies

Provide strategic asset allocation to support individuals' spending goals through retirement.

Vanguard Target Retirement strategies support spending goals with embedded asset allocations through retirement.

Investment solutions to support retirees include:

Financial wellness and guidance

Help translate retirement assets into income. Vanguard provides supports participants through the Live Well in Retirement guide and tools that provide spending guidance and help with setting up ongoing paychecks in retirement.

Retirement withdrawal coach

  • Predicts how long retirement assets may last.
  • Estimates total monthly retirement income.
  • Models withdrawal amounts and assesses tradeoffs.
Figure 1. Retirement withdrawal coach tool

Retirement plan paycheck

  • Provides plan paycheck details.
  • Offers options for selecting how taxes can be withheld.
  • Sets up a paycheck plan via installments.
Figure 2. Retirement plan paycheck tool


Help individuals with complex situations or those who prefer to turn to an expert. We offer advice options encompassing all stages of the financial journey, including leading to and living through retirement. It’s an inclusive approach, built so that every participant can access, understand, and implement the guidance they need.

Importantly, the decision to use advice—or not—is not onetime or irrevocable. We recognize that a participant’s best-fit approach will likely vary over time and with objectives.

Tools and experiences to help participants navigate retirement include:

Access to annuities

Connect individuals to cost-effective guaranteed income solutions. 

Whether to purchase an annuity is a personal decision. To support participants considering guaranteed income, we provide access to out-of-plan annuities through the Hueler Income Solutions ® annuity platform.

This enables individuals to obtain institutionally priced, competitive income annuity quotes from multiple insurance companies without conflict or “pay-to-play” requirements.

Want to talk about retirement income solutions for your plan?

Already a client? Contact your representative today.

For more information about Vanguard funds, visit or call 800-523-1036 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing. 

All investing is subject to risk, including the possible loss of the money you invest. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. 

Investments in Target Retirement Funds and Trusts are subject to the risks of their underlying funds. The year in the fund or trust name refers to the approximate year (the target date) when an investor in the fund or trust would retire and leave the workforce. The fund/trust will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund or Trust is not guaranteed at any time, including on or after the target date. 

Vanguard Target Retirement Trusts are not mutual funds. They are collective trusts available only to tax-qualified plans and their eligible participants. Investment objectives, risks, charges, expenses, and other important information should be considered carefully before investing. The collective trust mandates are managed by Vanguard Fiduciary Trust Company, a wholly owned subsidiary of The Vanguard Group, Inc. 

Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company. 

The Vanguard Group has partnered with Financial Engines Advisors L.L.C. (FEA) to provide subadvisory services to the Vanguard Managed Account Program and Personal Online Advisor. FEA is an independent, federally registered investment advisor that does not sell investments or receive commission for the investments it recommends with respect to the services which it is engaged in as subadvisor for Vanguard Advisers, Inc. (VAI). Advice is provided by Vanguard Advisers, Inc. (VAI), a federally registered investment advisor and an affiliate of The Vanguard Group, Inc. (Vanguard). Vanguard is owned by the Vanguard funds, which are distributed by Vanguard Marketing Corporation, a registered broker-dealer affiliated with VAI and Vanguard. Neither Vanguard, FEA, nor their respective affiliates guarantee future results. Vanguard will use your information in accordance with Vanguard’s Privacy Policy. 

Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All rights reserved. Used with permission. 

Access to annuities is provided on a rollover (out-of-plan) basis and is offered in collaboration with Hueler Investment Services, Inc., through the Income Solutions platform. Income Solutions® is a registered trademark of Hueler Investment Services, Inc., and used under license. United States Patent No. 7,653,560.