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Income Planning

Client Centered

If retirement is right around the corner, you may already be thinking about having adequate income once you are no longer earning a paycheck. This is why income planning is crucial. 

Income planning is the process of evaluating all the potential sources of income for your household and determining how to best utilize those sources. This includes amounts and timing to ensure that you do not run out of money. 

Social Security will normally be part of the equation, but should you start taking it right away or should you delay it in order to receive more down the road?

If you’re going to wait to draw Social Security, then where will you get your income? Will you draw income from your retirement account(s) like a 401(k) or from other savings you have accumulated along the way?

If you are going to draw from your other accounts, how do you invest those funds in order to generate adequate income? What accounts should you draw from first, second, etc? What is an appropriate amount of money you should take from your accounts altogether?

With income planning, we can:

  • Help you determine the amount of income you need to pursue your goals in retirement
  • Verify that you have liquidity in your portfolios to give you flexibility down the road
  • Help you keep your taxes to a minimum
  • Show you how to guard against inflation for the long-term
  • Run the numbers to give you assurance that your income lasts a lifetime


Contact us today to get started with your income planning.