IPF-Digital FEB2021 withNOimages v3€¦ · ¯Z ] o u v [ r ,1&!" r "01-, ) r &, , " r « ¨ « © & !")+ , ½ -+ r r r r r r r r r °

Ric Edelman’s Inside Personal Finance FEBRUARY 2021 RicEdelman.com 1

Your 2020 Tax Return

Read this, even though you have a tax preparer.

I hope you rely on a professional tax preparer. The pandemic caused Congress to change tax law last year and your preparer is probably aware of the changes. Remember: usually only credentialed tax professionals such as CPAs, Enrolled Agents and attorneys are permitted to represent you before the IRS if you’re audited, so don’t ask friends or family members to prepare your tax return for you. Besides, professional tax advisors are often willing to pay any penalties resulting from their errors. Will your brother-in-law do that? Here are some items you might want to discuss with your tax advisor. Contributions to IRAs. You can fund your 2020 IRA until April 15. The contribution limit is based on your income (the maximum is $6,000; $7,000 if you’re age 50+). Married with no income yourself? You can fund a spousal IRA. CARES Act Distributions. If you withdrew money from your retirement accounts in 2020, the CARES Act lets you pay just a third of the tax you owe on your 2020 tax return. (You’ll pay the rest on your 2021 and 2022 returns.) Pay it all in 2020 or spread it over three years? Ask your tax preparer. Note: Custodians coded the distribution as a regular distribution, so you and your tax professional must fi le with correct notations to reflect the CARES Act. Required Minimum Distributions. RMDs were waived for 2020. If you took an RMD within the past 60 days and now wish you didn’t, you can put the money you withdrew back into an IRA, provided you haven’t done an IRA rollover in the last 365 days. Unemployment Benefits. Unemployment income received in 2020 is taxable and must be reported on your 2020 tax return. Economic Impact Payments. Economic Impact Payments under the CARES Act are not considered income. You will not owe taxes on that money. Charitable Donations. If you itemize deductions on your tax return, you can deduct all the cash you donated to qualifying charities, up to 100% of your Adjusted Gross Income. If you take the standard deduction on your tax return, you can deduct up to $300 in cash donations.


Gifts. Did you give anyone (not a charity) more than $15,000 in 2020? If so, your tax preparer likely needs to file Form 709 with your tax return. W-2 and 1099 Forms. Your employer will send you a form related to your earned income. This will be a W-2 for employment income or a 1099 for self-employment income. You may also receive Form 1099 from each financial institution where you have accounts, such as banks and brokerage firms. Neither Edelman Financial Engines, a division of Financial Engines Advisors L.L.C., nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.


It’s Easy to Access Your Tax Documents in Client Portal

Get the tax documents from your custodian all in one place.

You can now access your custodian 1099 forms directly from the Edelman Financial Engines client portal. All Form 1099s should be posted by late February – one for each taxable account (and any IRAs that you received distributions from). Quick Steps to Access Your Tax Documents Step 1: Go to EdelmanFinancialEngines.com. Step 2: In the top-right menu, click "Login." Step 3: Enter your login information. Step 4: At the top, click the “Documents” tab. Step 5: Select “Tax Documents.” You will see all your tax documents as soon as they are available. You can also access your December year-end statement through the client portal. On the “Documents” tab, click on “Statements.” For technical help: Please call our Client Concierge Center at 888-PLAN-RIC (888-752-6742) or email [email protected].


Follow Ric on Forbes.com

Read Ric’s investing and public policy articles.

Want more of Ric’s financial insights? Check out Ric’s recent Forbes columns, which cover market timing, the election and investing, Social Security and more! Click “Follow Author” if you’d like to receive email notifications as new articles are published.


Can You Resist the Temptation to ‘Borrow’ From Your 401(k)?

This can be a life-changing financial decision.

Have you suffered a loss of income because of the pandemic? If so, you’re not alone. Millions of workers have been laid off or had their hours or pay reduced – in many cases permanently. Meanwhile, you must still pay for life’s necessities – housing, utilities, groceries, medical expenses and more. What can you do? You might be tempted to tap into your workplace retirement plan to cover these needs. That’s exactly what nearly one in three American workers did in 2020 – and 43% did so multiple times, according to the Tapping Retirement Assets Early study* Edelman Financial Engines conducted last year. (Read the study here.) Some might have been enticed because the CARES Act made borrowing from retirement plans easier; maximum loan sizes were also increased to $100,000. Yet more than half of the borrowers (55%) in our survey told us they've regretted their decisions. Indeed, 85% admitted they made their decision without understanding the consequences. More than 4 in 5 (81%) said a financial advisor could have helped them make a better decision. Simply put, borrowing from a retirement account is a life-changing decision because it can seriously harm your ability to achieve financial security in retirement. You could lose as much as half of your potential retirement savings from a single loan event! Here’s how. Let’s say Mary at age 45 has $100,000 in her 401(k). She takes out a $50,000 loan and never repays it. By age 70, if she hadn’t borrowed any money from her plan, her assets would have grown to $1.2 million (assuming a 6% annual contribution rate and 3% employer match). But if Mary defaulted on the loan, at age 70 she would have only $590,247. That's 50% less. Borrowing from your retirement account is never ideal, but life sometimes makes it unavoidable. For example, you might need money for medical care, to avoid eviction, or to buy a car or pay for car repairs so you can keep getting to work.


But, sad to say, employees often have frivolous or at least questionable reasons for accessing their retirement funds early. Among those we surveyed, the top reason for taking out such loans was to pay down credit card debt. Other nonessential reasons included vacations, weddings and simply “fun spending.” Once their “lifeline” is gone – because retirement funds are depleted or borrowing limits are reached – many employees’ financial stress only worsens. Employers suffer, too, because workers who are under financial stress are less productive at work. Too often, employees obtaining 401(k) loans don’t understand these critical points:

They incur fees to obtain a loan and pay interest when repaying it. They also incur a penalty if they don’t repay the loan on time.

The term “borrow” is really a misnomer. In reality, the “loan” is a withdrawal of funds from a 401(k) account; mutual fund shares in the account are sold to provide the “loan.” Those shares therefore no longer exist, causing the employee to miss out on any subsequent return in those shares’ values.

Some employees are not allowed to continue contributing to their accounts until the loan is fully repaid, and employer matching is discontinued. These add to the missed gains during the repayment period. Meanwhile, being unable to contribute to the plan increases the worker’s take-home pay, raising tax liabilities.

Money in 401(k) accounts is protected from creditors. But once you remove it through a loan or withdrawal, that protection is lost and creditors can sue, forcing you to repay, negotiate a settlement or seek bankruptcy protection.

As you can see, taking withdrawals from your retirement account is fraught with many problems. It’s partly why we always recommend that you maintain sufficient cash reserves – so you have the financial flexibility you need to cover unforeseen expenses. If your financial situation has changed during the pandemic, we urge you to talk with your Edelman Financial Engines planner to discuss all options – even if it means revising your financial plan – before you withdraw funds from your retirement account.


Funding Our Future: Pandemic Hastens Depletion Date of Social Security, Disability Funds

Both are running out of money sooner than expected.

Social Security’s funding woes are about to get even worse.

The pandemic has turned the situation from urgent to dire, shortening the projected deadlines for when these two key Social Security programs will run out of money.

As we’ve warned for more than two years, the Social Security Trust Fund was projected to be depleted by around 2034.

Depletion is now projected to occur in 2029 because the pandemic-induced unemployment has sharply cut tax revenue, according to the latest analysis from the Bipartisan Policy Center.

And the Disability Insurance Trust Fund is in even worse shape: Its reserves could be depleted as soon as 2024, BPC says.

To look deeper into both issues, I invited Shai Akabas, BPC’s director of economic policy, to join me on my radio show. BPC partnered with me to create the nonprofit Funding Our Future coalition. The 50+ member organizations are devoted to raising awareness of Social Security’s perils and easing the nation’s retirement savings crisis.

“What we found in our study is that the disability trust fund had been projected to last through 2065. Instead, it could now be depleted as early as 2024,” Shai says.

But how could a fund expected to last into the 2060s go broke in 2024 – 40 years sooner?

It’s not that actuaries did a poor job with projections, Shai says. It’s that benefits being paid out are almost exactly equal to the tax revenue coming in – and could soon exceed that, he explains.

“Payroll taxes are the lifeblood of Social Security, and drops in employment, hours worked and wages – everything that’s going on with this economic crisis – have reduced Social Security funding,” he says.

In the pandemic economy, about 10 million Americans are out of work. People who once paid into the system no longer do. Yet those who are disabled remain so. Add to that those who became disabled because of Covid-19, Shai explains. “They’re too ill or weak to return to work. This has a double impact – a reduction in the workforce and an increase in claims.”

In addition to those disabled by the virus, others who can’t find work but have some type of ailment may feel forced to file disability claims, Shai says.

The pressure on both Social Security trust funds affects everyone, from current retirees to those nearing retirement to the younger generations behind them.


“Of course, Congress must first respond to the public health needs of the pandemic and economic relief from it,” Shai says. “But Congress must also quickly shore up these programs because millions rely on them, too.”

Our coalition is encouraging Congress to take decisive action before the Social Security Trust Fund – and now the Disability Insurance Trust Fund too – is depleted, which would trigger significant, across-the-board cuts in benefits, large tax increases or both.

Want more information about Americans’ retirement readiness, the Social Security crisis, our coalition and what you can do to help? Visit FundingOurFuture.us.


Out of Sync: Life Span and Health Span

Life planning is about more than you.

Every year in America, we produce about 4 million babies. We also produce about 20 million caregivers, according to Ken Dychtwald. That’s a 5:1 ratio.

Ken is my good friend and the founder and CEO of Age Wave. He’s a psychologist, gerontologist and bestselling author of 17 books on aging-related issues, including his newest, What Retirees Want.

On a recent visit to my radio show, Ken shared the above shocking statistic on caregivers. But what got me thinking is that the situation is even worse than that ratio. After all, I thought, 4 million new babies doesn't translate to 4 million new moms. Right?

Ken agrees. Many moms are having their second or third baby, which means we're producing 1 million to 2 million new moms per year. But most caregivers are indeed new – and that means the ratio of new moms to new caregivers isn’t 5:1 – it’s more likely 10:1 and maybe even 20:1.

It’s therefore highly likely that this trend will affect you at some point, because you will be called upon to be a caregiver.

Part of the issue is that American life expectancy is now age 86, but our health span is far shorter. That refers to the fact that we fall ill in our 70s and spend 10 years dying.

Indeed, a vast segment of our population is suffering. The health care system, which has failed to prevent illness or disease, forces family members to leave jobs or relocate to care for a loved one. Already, more than 40 million Americans serve as unpaid caregivers. That number will only grow. Does your financial plan contemplate this?

Talk with your planner and please share this article with your family and friends so they can prepare. And read Ken's new best-seller, What Retirees Want, available everywhere that books are sold.



Counting the Ways to Show Love on Valentine’s Day

Spending keeps rising – and so does the range of recipients.

How much do you plan to spend on Valentine’s Day gifts this year? Typically, 55% of Americans 18+ buy Valentine’s Day gifts. Those 35-44 are most likely to celebrate; fewer than half of those 65+ participate. Spouses and significant others get 52% of total spending, an average of $101 (up from $93 in 2019), according to the National Retail Federation. Pets get 27%. As in every year of the survey, men plan to outspend women – $291 to $106. But wait! Here’s a more practical option: You’ve probably heard me say this before, but it bears repeating: Instead of giving gifts that don’t last, try saying this: “I love you, and I’m putting the money I would have spent on gifts this year into an IRA in your name.”


Thinking About a New Home?

Evaluate the risk of natural disasters before you buy.

Wildfires. Floods. Tornadoes. Hurricanes. Earthquakes. It's not your imagination; the frequency of natural disasters has indeed increased in recent years. That’s why the cost of property insurance is rising in risky areas. Some companies are even canceling policies on hapless homeowners. If you are thinking about buying a home, evaluate the risks of the community. Don’t assume you’ll be able to buy coverage – or that the coverage won’t be canceled in future years.


Change Humans do not like change. We resist until it is forced upon us. Thinking about these challenging times and trying to gain greater perspective, I get excited about being alive during this time of great change. One big reason is that we are in the Fourth Industrial Revolution – the age of technology. The First Industrial Revolution introduced new manufacturing processes in Europe and the United States, from the mid-1700s through the mid-1800s. This was the period of the steam engine and mechanization. The Second Industrial Revolution began around 1870, and brought us electricity, gas, oil and chemical synthesis. It was the age of science and communication, thanks to the telegraph and telephone. The Third Industrial Revolution came in the early 20th century – aviation and mass-produced cars. It continued with nuclear energy, telecommunication, and computers. We are now in the early stages of the Fourth Industrial Revolution. It’s the rise of digital technology, the internet, robotics and so much more. Ric talks about all this in his book, The Truth About Your Future. We are undergoing massive change in the way we live, work and relate to one another. It is a new chapter in human development enabled by extraordinary technology advances – as impactful as all the prior revolutions. Each revolution that came before was difficult for many. Weavers were displaced by the loom; buggy makers were disrupted by Ford’s Model T. It’s the same today. Cab drivers are threatened by Uber and Lyft. Change is always uncomfortable, until we get through it. Then it all becomes normal again. And society is better off. Our education system serves our children better. Businesses deliver better products and services for consumers. Patients get better treatment from our health care system. And so much more.


Covid-19 is forcing so many of us to make so many changes so quickly. Many of us weren’t prepared. But we can’t be resistant, because the future is always tugging at us, demanding that we approach and adapt. We need to embrace the future – not resist it. In our fourth revolution, let’s help write our new history. It is our greatest time of change, and our greatest time of opportunity. Let’s get past our fear with five easy steps. Step one: Focus on what we can control – our diet, exercise, thoughts and emotions. Step two: Let’s be patient. Positive change takes time. Step three: Find perspective. Let’s consider the bigger, long-term picture. Step four: Learn to let go. We are learning that so much of what we have been doing no longer serves us. Step five: Be proactive. Think ahead to what’s coming. Let’s anticipate the future and make it our own. CHANGE C – Challenge. This will not be easy. H – Hope. We can always have hope. We never give up. We are not our circumstances. We are our opportunities. A – Adaptability. It is healthy and exciting to let go of the old and embrace the new. Discard the rigidity of routine and repetition. N – Navigate. We will navigate our way to the future. We will be a better, healthier society for it. G – Grounded. Let’s reconnect with and deepen our relationships. Walking toward the future together is easier than walking alone. E – Excel. We all have something to contribute. Let’s find our moment and blossom.


How the Blockchain Can Help Prevent the Spread of Fake News

Is today’s news fake? Much of it is. The problem is big and growing. Fortunately, blockchain technology can help prevent that. Thanks to the tech, information passes from A to B in an automated and safe manner that’s virtually impossible to falsify or hack. Applications include banking, health care, insurance, real estate, supply chains, personal identification and more. So why not use it to combat fake news? The research firm Gartner has predicted that by 2023, up to 30% of news and video content will be authenticated by the blockchain to counteract deepfake technology. The Blockchain Center of Excellence at the University of Arkansas recently completed a case study, for example, involving Ernst & Young and ANSAcheck, Italy’s top news wire service. While many fact-checking websites examine news after fake news has been created, ANSAcheck authenticates sources in advance, and every story it posts features a sticker to signal its authenticity. It costs the fi rm just $0.006 per story. ANSAcheck isn’t alone. Last year, The New York Times introduced the blockchain solution News Provenance Project to fight fake news. Its blockchain stores an image’s photographer, time and date, location, caption and other photos to prevent someone from using the photos in a fake narrative. Expect more blockchain solutions to help reduce fake news.

SpaceChain hardware supports blockchain wallet applications for its low-Earth-orbit satellite network for digital transactions. The hardware is the first such demonstration aboard the International Space Station to show how documents that require multiple signatures or approvals can be secured through a space-based network.

A common vision for the nation's energy grid involves homeowners selling

unused power from rooftop solar panels to ensure the reliability, resiliency and security of the power grid. The National Renewable Energy Laboratory


is looking at ways the blockchain could be used to manage complex energy transactions at scale.

Aircraft-component maker Moog Inc. is testing a combination of

blockchain and 3D printing to accelerate the replacement of defective aircraft parts from weeks to hours. Blockchain tech cuts time-consuming paperwork, letting buyers locate and buy parts immediately.

Blockchain technology will play a decisive role in the “hyperconnected

economy,” according to market research firm HFS Research. Because no single organization owns the entire customer experience, it says blockchain is the most effective tool to facilitate large-scale collaboration.

The U.S. Agricultural Marketing Service says blockchain technology will be integral to complex agricultural supply chains, citing the tech’s speed, transparency, security and verifiability.


You Be the Judge

You can pay the IRS less than what you owe, through a program called Offer in Compromise. A couple entered into an OIC in 2013 and paid the lower amount in 2016 through monthly installments. But in 2015, they failed to pay their regular taxes on time – causing the IRS to revoke the OIC in 2017. The U.S. Tax Court upheld the IRS’ decision, so the couple appealed to the Fifth Circuit U.S. Court of Appeals. What did that court decide?

The Verdict

The appellate court agreed with the tax court that the couple must pay the full amount. Under rules governing OICs, taxpayers must pay their regular taxes on time for five consecutive years while paying the OIC itself. About 30% of taxpayers granted an OIC fail to do that, allowing the IRS to nix the compromise and demand full back taxes.


529 Plans

Q: My son is starting his first year of college this fall. We’ve been saving for years in a 529 and have about two years saved so far in the 2020 Lifecycle Fund. We recently paid off our mortgage, so we have more money to save for school. Since the time has come for us to start paying for college and we’re worried about market swings, should we continue to save in the 529 Lifecycle Fund, or do we put it into a savings account?

I wouldn’t bother adding money to the 529 unless you get a state tax deduction for doing so. Not every state offers a tax benefit, but some do. If your state does, you can put the maximum allowed into the 529, but choose the money market option, which is similar to a bank account. You won’t have to worry about market fluctuation, but you’ll still get the state tax break. 529 plans allow you to save for college and take advantage of taxfree growth. That’s fabulous when you have five, 10, 15 years to save. But if you’ve got less than two years, you don’t have enough time to take advantage of compounding growth. The only real reason to save in the 529 then becomes the state tax break. That’s a small amount of money because it’s a state tax deduction – not a federal tax deduction. Neither Edelman Financial Engines, a division of Financial Engines Advisors L.L.C., nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.


Pensions Becoming Annuities

Q: I retired 10 years ago and have been living on my pension. Recently, I was informed by the company that the pension will be the responsibility of an insurance company through a group annuity contract. The insurance company sent me a letter saying the liabilities under the contract will be funded from fixed income investments such as bonds. Should I be concerned about my pension being precarious and having enough income for the future? Companies that provide pensions are making a promise to their employees: If you work for a certain number of years, then at retirement they will give you a monthly income based on your salary for as long as you live. But many companies have discovered that the promise they made was more than they bargained for, because their employees are working longer (earning bigger pensions) and retirees are living longer (forcing companies to pay those bigger checks for longer). So, your employer has shut down its pension and transferred its legal obligation to an insurance company. As a result, your pension benefits are no longer protected by the Pension Benefit Guaranty Corporation, a government agency that protects pensions like the FDIC does for bank accounts. You now have an annuity that is simply guaranteed by an insurance company, without the federal government guarantees you previously had. You can only hope that the insurance company stays in business and properly manages the annuity, since you have no legal recourse. This is why we offer two pieces of advice regarding pensions. One, if your employer is promising you a pension, act as though the pension doesn't exist. That way, if the pension goes away, you have your own savings to fall back on (so save, save, save). Two, when you retire and are ready to begin receiving your pension benefit from your employer, consider taking the benefit as a lump sum. Many employers don't offer this option (the federal government, for example) but if your employer does, it is often the best choice because you get full control to invest the money as you wish, generating your own monthly income. We can look at your options for you to help you determine the best approach given your situation.


Fun Money

Q: We are a young couple and follow your financial planning philosophy. We have paid down high-interest debt, are living on one take-home pay, and have ample cash reserves. We both save 15% of our pay in our employer plan and are getting the full match. We are also saving for a down payment on our first home and IVF treatments. What is a reasonable percentage or amount of money that each of us should allocate to ourselves each month given our goals?

Once you have eliminated high-interest debt, built sufficient cash reserves, are maxing your retirement and college savings contributions as well as saving for your other goals, 100% of your remaining monthly income can be spent on anything you want. At that point, your sole goal should be to have fun – because you deserve to!


Career Change

Q: What is the proper way to go about becoming a financial advisor? I read books and articles and listen to podcasts because I find the subject super interesting. Is it too late as a 40-year-old to make a career change like this? If not, what is the proper way to do this and to possibly land a job in the future with your organization or something that follows your values and business model?

It's not too late at age 40 to change careers. According to the Department of Labor, the average 35-year-old has had eight jobs. You're not even in middle age yet – so there’s plenty of time to switch. You can get hired tomorrow by any big-name brokerage firm or insurance company. They will get you licensed, and they will expect you to sell lots of investment and insurance products. Planning will be discouraged or prohibited depending on the firm. If you want to focus on financial planning, you need to get hired by a planning firm like ours. But none will let you be a planner on day one. One could expect to develop the skill set required to be a successful planner in an average of five to seven years. The choice you select will say a lot about your true goal. Is it to try to make a lot of money right away, or to take the time to learn the skills and knowledge you need so you can serve your clients' best interests? Either way, go get your CFP®. It takes about five years to earn the CERTIFIED FINANCIAL PLANNERTM designation. Best wishes with your career change!


Investment Goals

Q: We are very concerned about the future and the stock market. We have built up a comfortable nest egg to fund our retirement. How do we protect our investments? I share the concern that there is a big disconnect between the economy and stock prices. This doesn’t necessarily mean that the market will crash, for two other scenarios are possible:

Prices could stay flat until corporate profits catch up. (Stock prices in 1979 were unchanged from 1969, for example.)

Corporate profits could rise as quickly as investors believe they will – proving they were right in setting prices today where they are.

The best way to decide how you should proceed is to take no more risk than necessary. I did this with a wealthy client recently who is not only terribly afraid, but he’s convinced the market will crash 30% or more. I didn’t try to argue with him, because no one knows for sure and everyone has an opinion. So, instead, I merely looked at his total assets and compared that to his need for income. I found that his portfolio can generate twice as much income as he needs to maintain his lifestyle, no matter how long he lives, even after adjusting for inflation. And that ignores Social Security, his pension and the value of his two homes. I told him that he will be fine even if his portfolio earns zero forever – which is pretty much what he’ll get in U.S. T-bills these days. But I also told him he’ll suffer “opportunity cost” – meaning he’ll miss out on profits if the stock market rises. And of course, I added that he doesn’t have to make it an “all or nothing” decision; he can have a little bit in stocks, say, 20% (he currently has 60%) instead of nothing. After considering all this, he chose to place all his funds into cash. His view is that, since there is no need to take any financial risk, there is no justification in doing so. I could not disagree with his conclusion. After all, investing is about achieving goals. He has achieved his, and thus there is no reason to risk his financial security in an effort to become even more wealthy. In my view, he made the right decision for him, based on his situation and attitude.


Investing is about trying to achieve your goals. Your investment portfolio should reflect that. Otherwise, you’re just speculating.


Barron’s Hall of Fame advisors have been ranked for 10 or more years on the Barron’s Top 100 Financial Advisors list. Barron’s listings are based on data compiled by many of the nation’s most productive advisors, which has been submitted to and judged by Barron‘s. Key factors and criteria for each award include assets under management, revenue produced for the firm, regulatory and compliance record, and years of professional experience. This award is not indicative of this advisor‘s future performance. All information provided through Inside Personal Finance is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security or insurance product; or an endorsement of any third party or such third party’s views. Whenever there are hyperlinks to third-party content, this information is intended to provide additional perspective and should not be construed as an endorsement of any services, products, guidance, individuals or points of view outside Edelman Financial Engines. All examples are hypothetical and for illustrative purposes only. Please contact us for more complete information based on your personal circumstances and to obtain personal individual investment advice. Videos presented on this website are for educational purposes only and do not constitute investment advice or an offer to buy or sell any security or insurance product. An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. © 2021 Edelman Financial Engines, LLC. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM1431343.