Broker Check

Retirement Income Planning

The Four Phases of Retirement Income Planning

The Four Phases of Retirement Income Planning

Retirement income planning is often thought of as just that—making sure you have enough income to last during retirement. Retirement today is different. Having enough income to live off of is not necessarily the best objective. Having a clear understanding of all the tools you have at your disposal is the key to achieving every retirement objective you have set.

Making sure you can maintain the lifestyle you would like to have during retirement is an example of that view. This includes having enough money to go back to school, transform a hobby into a fun new business, or doing the travel you never had time to do before.

So our view of retirement income planning has four phases:

  • Asset accumulation
  • Asset protection
  • Income distribution
  • Transferring assets to heirs

Two of these phases work in tandem: asset protection and income distribution. Asset preservation and even growth where appropriate are vital components needed to maintain your desired retirement lifestyle and to ensure you won’t run out of money.

Estate preservation and charitable giving are also part of our focus as we approach and enter into the retirement phase of our lives. All of these are factors not often considered when designing a retirement plan.

So, you never realized estate planning is part of an effective retirement strategy? Read on and we’ll show you how and why it is such a vital component.

Have a Question?

Thank you!