IRA & INCOME PLANNING

Enjoy Smooth Sailing in Retirement with Proper Income Planning.

Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information is new. Whether you are just setting out on your retirement journey, or it is already well underway, you may be skeptical of whether you’ll have enough retirement income to maintain a comfortable and enjoyable lifestyle.

There are three major phases in the management of retirement income:

  • The accumulation phase

  • The distribution phase

  • The preservation or transfer phase

Planning for your retirement may require a shift in mindset, and a solid understanding of the difference between retirement savings and retirement income. Prior to retirement, your financial life was dictated by your paycheck. Once you retire, however, you can no longer rely on a paycheck, which means you will be left to find other sources of income. You’ve worked hard to save for retirement, and now the time has come to find methods of creating income from what you’ve saved. Although this can represent a challenge for many, it also represents a great opportunity to help grow your savings beyond what you’ve saved — and this is usually made easier by enlisting the help of a financial services professional that you trust.

We will work with you to help you uncover the various opportunities and concerns of each phase. Additionally, we will walk you through the process of:

  • Determining how much retirement income you will need

  • Estimating how long your current income plan may last

  • Calculating how much additional income you may need

  • Evaluating your additional income sources

  • Understanding how risk plays a role in your income stream

Because taxes play a major role in any financial planning process, our firm will utilize tax advantaged vehicles to accommodate your retirement income goals, such as traditional IRAs, Roth IRAs, 401(k)s, and IRA rollovers.

We help to Mitigate Risk in your Retirement Income

But then it gets a bit more complicated. Today’s longer retirement comes with a number of inherent risks that we have to consider. The only good retirement plan is one that protects and provides for you for the rest of your life, and in order to do that, your plan must mitigate risks.   Clients are often seeking guidance on an array of financial risks, including experiencing protection against investment losses and how to guarantee sufficient income to meet rising costs. That includes rising health care costs, inflation, and taxes. Plus concerns about an increasingly unpredictable global market.  

You just need to create a plan based on your personal goals, assets and expenses that also takes into account all of the potential risks of a long retirement.  And here’s good news: we can do exactly that. 

Our Approach

Our approach starts with you, our client. Starting on a foundation of mutual respect and understanding, we dedicate the time needed to listen to your goals and educate you on realistic options.  There are ways to create a retirement portfolio based on your specific goals that also have the ideal balance of risk and safety to provide you with enough growth to produce ample income despite inflation, longevity and expenses like healthcare and taxes, but also enough safety to counterbalance market risks and protect your income and legacy. Rise Financial Group can help provide personalized solutions to fit your needs, so contact us today!

BOOK YOUR NO-COST, NO-OBLIGATION CONSULTATION

Keep in mind, the numerous options for your retirement savings may seem overwhelming, Rise Financial Group is here to help you make sense of it all, please click the button below to schedule a no-obligation appointment with a Registered Investment Advisor