Why is the sequence of return risk so important?

• Most investors go through life making a series of periodic investments
  to their savings plan(s), which is called Dollar Cost Averaging. Learn more about Dollar Cost Averaging.

• Dollar-Cost Averaging is one of the most common forms of periodic investing.
  It involves continuous investment of the same dollar amount at predetermined intervals.
• This strategy helps you continue to invest, even when investment price levels fluctuate.
• In early years, because you have time on your side, your focus should be on accumulating
  shares and keeping fees and investment-related expenses relatively low.

The Timing of Distributions Makes a Difference

• During retirement, the timing of investment returns can have a dramatic impact on your account.
• Withdrawing assets in a down market early in retirement can significantly impair your portfolio
  over the long term.