Income Planning

Income planning for retirement is still a responsibility that falls on the shoulders of each individual and according to Fidelity Investments: Seven out of Ten investors surveyed in 2015 indicated that a retirement income plan was “very” or “extremely” important to them.

Social Security, Pensions, 401k’s, CD’s, IRA’s, Stocks, Bonds, Rental Income, Inheritances, Reverse mortgages, all sources of income, but which should be used first and in what order? Understanding withdrawal strategies, tax implications, and regulations regarding asset distribution is paramount in building a sustainable Lifetime income plan.

Five Key Risks

  • Longevity: Many people underestimate their life span and risk outliving their assets. Today’s 65 year-olds are expected to live well into their late 80’s and early 90’s, spending 20 to 30 years in retirement.
  • Health care expenses: Rising health care costs coupled with inadequate health care coverage can have a devastating impact on a retirement income plan. According to the U.S. Census Bureau, the average retirement age in America is 62, making strategies for covering health care without eroding assets prior to Medicare eligibility extremely important.
  • Inflation: Inflation increases the future costs of goods and services and may erode the value of assets set aside to meet those costs. Very few things, if any will cost less in 10 years from now.
  • Assest Allocation: Retirees with a portfolio overly concentrated in conservative investments expose themselves to greater risk of outliving their assets.
  • Withdrawal rate: Aggressive withdrawal rates increase the likelihood that retiree’s will deplete their assets prematurely.

We offer a comprehensive program designed to construct and monitor a Sustainable income plan to help meet your specific goals. To view the foundation from which your income plan would be built upon, please view:

Retirement Lifestyle Workbook