Retirement and Income Planning

Whether you are 20, 40, 60 or 70, you may ask, “When can I be in position where I don’t HAVE to work?” “If I leave my current job, how much would I need to make from a job that truly fulfills me and still have a successful plan?” “I’m 25 years old and just got my first real job. Do I have to think about retirement already?”

We like to let clients tell us what they want, so that we can come back with information to see how you are tracking for a successful outcome. There are so many variables, and that is why we tend to be conservative in assumed rates of return—We like to make sure there is some padding around the plan to accommodate the unknowns. And, unless you are over 55, we don’t include Social Security income in the plan. That’s your gravy.

Then when you have done a great job in saving and accumulating assets while working, you may ask, “Now, how do I turn my assets into income?”

Retirement income planning is basically looking at unwinding what you have done for the last 10, 30 or 50 years. We look at efficient ways to withdraw from your assets, looking at taxes, looking at allocation, looking at potential big expenses, like a roof, or “the trip to Europe.” There are also IRS regulations to be aware of. We look at making sure your cash flow for necessities is taken care of, so you know what your discretionary (or fun) money is…then you can plan your vacation!