The Charles Schwab Corporation announced the availability of Schwab Intelligent Income, an income solution designed for people who want a simple, modern way to pay themselves from their investment portfolios. Schwab Intelligent Income helps answer critical and often complex income-related questions about how much to withdraw, how to invest based on individual goals and time horizon, and how to withdraw from a combination of taxable, non-taxable, and Roth accounts in a tax-smart and efficient way. Plans for the solution were initially released last month. Schwab Intelligent Income is available for no additional fee through the firm’s digital advisory service Schwab Intelligent Portfolios. For those who want a comprehensive financial plan and unlimited guidance from a CERTIFIED FINANCIAL PLANNER professional, Schwab Intelligent Income is also available through Schwab Intelligent Portfolios Premium. Schwab Intelligent Income projects, manages and automates multiple income streams with a unique range of features including: An intelligent, tax-smart approach that implements a withdrawal strategy across enrolled taxable, IRA and Roth IRA accounts, Required Minimum Distribution considerations, tax-loss harvesting, dividends, and income, as well as automatic portfolio rebalancing back to an investor’s target asset allocation as money is distributed from the portfolio. A real-time digital dashboard thatenables investors to easily view their portfolio, recurring withdrawal, and the probability of meeting their withdrawal goal, with the flexibility to forecast and make changes based on their income needs. Guidance tailored to generating a predictable monthly withdrawal based on an investor’s specific financial situation, delivered through a tax-efficient and low-cost automated approach that helps keep investors on track. Live support from Schwab investment professionals is available 24/7/365. Automatic income deposit into a Schwab High Yield Investor Checking account (linked to a Schwab One brokerage account) or any other external bank account. Flexibility to stop, start, and adjust the withdrawal amount, frequency, and deposit location without penalty. Ongoing monitoring and alerts that assess real-time portfolio performance against plan and notify clients if their monthly withdrawal rate is at risk based on market movements or other factors. To enroll in Schwab Intelligent Income, investors must first open an account within Schwab Intelligent Portfolios or Schwab Intelligent Portfolios Premium after answering a short set of questions that assesses their financial situation, time horizon and risk tolerance. Schwab Intelligent Income then recommends the appropriate withdrawal strategy across taxable and retirement accounts. Schwab Intelligent Portfolios has a $5,000 minimum and charges no advisory fee. Schwab Intelligent Portfolios Premium has a $25,000 minimum and charges an initial one-time $300 fee for planning and a $30 monthly subscription ($90 billed quarterly). Just as if customers had invested on their own, clients in Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium pay the operating expenses on the ETFs in the portfolio, which includes a combination of Schwab ETFs and funds from third-party providers. Based on a client’s risk profile, a portion of the portfolio is placed in FDIC-insured deposit accounts at Schwab Bank. Some cash alternatives outside of the program pay a higher yield. See additional cost information below. Schwab Intelligent Portfolios Premium features a Satisfaction Guarantee, which states that if a client is not completely satisfied for any reason, Schwab will refund any related fee or commission and work with the client to make things right.