Abstract: A first income need is determined to meet essential expenses for a user during retirement, and a second income need is determined to meet discretionary expenses for the user during retirement. A default target income mix is calculated to meet the first income need and the second income need. The default target income mix is a set of weights of one or more classes of income generating products. Qualitative investment preferences are quantified for the user. The default target income mix is adjusted using the quantification of the qualitative investment preferences to form an adjusted target income mix including a second set of weights of the one or more classes of income generating products.

Abstract: A first income need is determined to meet essential expenses for a user during retirement, and a second income need is determined to meet discretionary expenses for the user during retirement. A default target income mix is calculated to meet the first income need and the second income need. The default target income mix is a set of weights of one or more classes of income generating products. Qualitative investment preferences are quantified for the user. The default target income mix is adjusted using the quantification of the qualitative investment preferences to form an adjusted target income mix including a second set of weights of the one or more classes of income generating products.

Abstract: A target income mix is expressed as a set of weights in a portfolio of one or more classes of income generating financial products to meet a first income need indicative of essential expenses and a second income need indicative of discretionary expenses for a user. The target income mix is converted to dollar amounts to invest in the classes of income generating products to meet the first and second income needs. Using the target income mix percentage weights, initial purchase amounts are determined from the user's available assets. The initial purchase amounts for each of the classes of income generating products can be adjusted until the overall portfolio is projected to produce enough after-tax income to meet the first income need at a first predetermined confidence level or return assumption and meet the first income need and the second income need at a second predetermined confidence level.