Retirement Income Planning

What are some benefits of creating a personal retirement income plan?

A personal retirement income plan combines key parts of your financial profile - personal savings and assets, Social Security and pension benefits, insurance, taxes, etc. - into one comprehensive plan providing the following potential benefits:

• It can help address three common risks retirees face: 1. Retiring in a year when the economy and financial markets decline; 2. The impact of the rising cost of living, including healthcare; 3. The possibility of outliving your money.
• It can help optimize your guaranteed sources of retirement income such as Social Security and pension plans.
• It can help you determine the amount of insurance coverage needed for assisted living and long-term care expenses.
• It can help to minimize your income taxes.
• It can help provide financial security for a surviving spouse and estate beneficiaries.
  

Do I have to be wealthy to benefit from retirement income planning?

• No, everyone saving for retirement should take the time to develop their personal income plan before retiring.

When should I start developing my plan?

• If you are considering retiring soon, be sure to develop your plan before you terminate your employment and before you claim Social Security and pension benefits. This is especially true if you are married.
• For those further away from retirement, consider starting to plan for the income phase of retirement at around age 50 to 55. This is generally the high earning and empty nest years and provides extra time to adjust your plan as needed before you retire.

How can Retirement Income Strategies help me with my plan?

• Retirement Income Strategies can help with the design, implementation, and ongoing management of your plan.

When are you available for appointments?  

• I maintain a flexible schedule to accommodate people who prefer to meet early mornings, evenings and Saturdays.  I look forward to working with you!