Retirement Income Planning

Where will your retirement income come from? If you’re like most people, qualified retirement plans, Social Security, personal savings and investments are expected to play a role. Once you have estimated the amount of money you may need for retirement, a sound approach involves taking a close look at your potential retirement income sources.

As you near retirement, the traditional strategy has been to move growth-seeking products to more conservative fixed-income products. This may have worked fine when retirement was only expected to last five to ten years. Since people are living longer today, we feel you need an efficient and effective plan tailor-made to your unique situation; one that is built to last your lifetime and beyond.

Making sure your assets can generate the retirement income stream you need today and keep up with the rising cost of living that inflation pressures can exert requires professional planning.

Which income streams do you have control over?

  • Some, like Social Security and pensions, are automatic.
  • Others, like distributions from your retirement and investment accounts or annuities, require specific decisions as to when and how much you should take out.
  • Some of your accounts may allow you to take a guaranteed income stream that you can’t outlive.

An income plan involves a well thought out plan to evaluate your special needs concerning:

  • Risk of your assets
  • Needs for liquidity in case of emergencies
  • Your peace of mind with the possible changes in your income needs; from changes in the cost of where you live, to changes in the cost of your health care.

Elevation Capital Strategies can help you to develop an income plan that that is designed to ensure your assets can go the distance in retirement. To turn your savings into a durable income stream, you must strategize when and how to withdraw from your retirement savings. We will work with you to:

  • Rollover a 401(k), IRA or other retirement savings plan
  • Create an income distribution plan from your savings and investments
  • Structure an income stream to last the duration of retirement
  • Reduce or eliminate taxes on your retirement income

Our simple no-obligation 4-Step Review is a great way of helping you to determine if your current strategies match up with your plans for today and for your future.

Request Appointment