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All About Retirement Income

any Americans look forward to an active and rewarding retirement. With uncertainty about Social Security and the decline of traditional pension plans, planning and funding retirement is increasingly the responsibility of each individual. As you plan for retirement, there are several important factors you should consider:

  • Longevity. People are living longer; it’s possible you could spend 20 or 30 years in retirement.
  • Inflation. The cost of living tends to increase over time, which means you may need to spend more each year just to pay your necessary expenses. 
  • Health care costs. The cost of health care continues to rise faster than the overall rate of inflation. Increased costs are likely to take a bigger bite out of your retirement budget. 
  • Market risk. Investment losses early in retirement can reduce a portfolio’s value and its overall sustainability. Depending on how your portfolio’s assets are allocated, you may end up drawing down your money faster than you originally expected.
  • Asset allocation. Finding good investment balance is imperative; an overly aggressive portfolio may lead to investment losses; an overly conservative portfolio may not keep pace with inflation. (Asset allocation neither assures a profit nor protects against a loss in declining markets.)
  • Excessive withdrawals. Withdrawing too much, too soon increases the risk that you could run out of money later on in retirement.

We can help you create a retirement income plan that addresses these risks. For a complimentary consultation, please contact us or get on our calendar here: 

Schedule a Complimentary Consultation to Discuss Retirement Income
Estimating Your Retirement Income Needs

Estimating Your Retirement Income Needs

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. 

Need help figuring this out? Ask us about our retirement planning services. 

Converting Savings to Retirement Income

Converting Savings to Retirement Income

During your working years, you've probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert those savings into an ongoing income stream that will provide adequate income throughout your retirement years.

Need help figuring this out? Ask us about our retirement planning services. 

Determining the Best Investment and/or Income Strategy for You

Each person's retirement is unique, so not every investment type will be a good fit.

First, let's find out what you are trying to accomplish. We'll discuss your current assets, expenses, sources of income, risk tolerance, time horizon, etc. These details help us design a strategy to match your personal circumstances.

View a sample Retirement Income Analysis here.

Additional Resources

Interested in understanding how annuities can create a reliable income stream and if they are right for a portion of your savings? Click below...