What is Income Planning?
Throughout your working years you had a steady paycheck... With this steady paycheck you: paid bills, had fun, went on vacation, raised a family and saved for retirement. The key is, your "working" paycheck arrived on a regular basis and you had a fairly specific idea how much it was going to be each time you received it. This reliability was how you were able to run your household budget and maintain your lifestyle.
Now you are getting ready to retire... It's time to transition those savings in to a steady, reliable income to replace the "working" paycheck you once had with a new "retirement" paycheck. That's income planning!
and we're Experienced Income Planners.
In short, the primary goal of retirement Income Planning is to create a steady stream of income that the retiree can't outlive.
When Income Planning there are many variables that can affect the amount you will receive during retirement, such as the distribution rate you choose, investment returns, inflation, and how long you live. All of which can greatly affect your future retirement income.
We'll help you to uncover your investment goals, desired return objectives, risk tolerance, time horizon & cash requirements. Then we'll work with you to find the most appropriate financial vehicle to transition your accumulated wealth into a steady stream of income stretching though your golden years.
Lastly, by marrying this new income stream with others from sources like Social Security, Pensions, etc.. we will have created an Income Plan that will help you maintain the lifestyle that you have become accustom to.