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Retirement Income  

Retirement Income 

Retirement income planning is the process of turning a lifetime of hard-earned savings—your nest egg and other sources of income that will fund your retirement—into reliable monthly payments and ongoing savings for emergencies or future goals.

The planning process ensures your income strategies are designed to last the duration of your retirement amidst a constantly evolving world. Properly structuring your withdrawals and distributions in retirement is also important to reduce your tax burden and ensure you’re not paying more than your fair share in taxes.


Retirement Income Planning Aligns The Following Pieces Of Your Financial Puzzle:

  • Cash flow management
  • Required minimum distributions
  • Tax strategies
  • Social Security optimization
  • Long-term care needs
  • Optimizing the withdraws out of your portfolio

Why Do You Need Retirement Income Planning?

During your working years, you likely had one major source of income from your primary employment or business with perhaps a few other sources on the side. In retirement, you may have several sources of income that must be properly structured to ensure you have enough money for your monthly expenses, while also protecting your wealth from market fluctuations and preserving it for future plans or emergencies.

Your income sources may include:

  • Savings from your retirement accounts
  • Individual brokerage accounts
  • Social Security benefits
  • Health savings accounts
  • Pension(s) from your employer
  • Income from rental or other investment properties

With all these sources of income to draw from, it can quickly become overwhelming to determine how much you can safely withdraw to maintain your lifestyle, while also ensuring you’re not overpaying in taxes or putting your investments at undue risk.

You also want to ensure you’re not under-withdrawing from your accounts from a place of fear or uncertainty. Retirement income planning takes the guesswork out of funding your retirement and helps you balance your desired lifestyle with other relevant factors, such as your life expectancy, probability of needing long-term care, and unique investment allocations.

Benefits Of Retirement Income Planning, Dayton Ohio

The benefits of retirement income planning cannot be overstated. Perhaps the greatest benefit is the confidence that comes from planning against the distressing possibility of running out of money in retirement. For Americans, running out of money in retirement is a top concern. Having a written plan that accounts for taxes, projected returns, and withdrawal rates is the only way to gain a clear idea of how to make your money last.

Additionally, retirement income planning helps clarify your future because you have a plan that accounts for a variety of scenarios and the updates that would need to be made if those scenarios occurred. For example, if the markets experience a downturn, your retirement income plan will provide guidance on how you should react, which helps prevent the possibility that you make rash or emotionally driven decisions. Retirement income planning, as with all financial planning considerations, is flexible to changing circumstances and needs.

Finally, income planning can reduce your tax liability by strategically balancing your withdrawal and distribution decisions. You still have to pay income tax in retirement, and some sources of income, such as Social Security benefits, can be more heavily taxed if not properly planned for. Therefore, income planning optimizes your solutions to reduce your tax burden.

How We Help

Our Family Office and suite of services is specifically designed to streamline your retirement income planning needs with all the other components of your financial life. Our team consists of CFP® professionals, estate planning attorneys, a dedicated service team, and a network of other professionals such as CPAs, personal assistants, and wealth managers to make life in retirement simpler.


                                                                                               👉 Want to learn more about how we create retirement plans? Click here to get your Free Retirement Assessment.



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