Retirement Income Planning
Creating Retirement Income
Retirement income planning isn't about picking products — it's about designing a paycheck that lasts for life. Here's how to build one with confidence.
Why Income Planning Is Different
Saving for retirement is about accumulating assets. Spending in retirement is about turning those assets into a sustainable, tax-efficient paycheck. The two require different strategies.
The Income Floor Approach
Start by identifying essential expenses (housing, food, healthcare). Cover those with guaranteed sources — Social Security, pensions, and lifetime annuity income. Use other assets for discretionary spending and growth.
Coordinating Sources
A good plan coordinates Social Security timing, withdrawal sequencing across taxable, tax-deferred, and Roth accounts, and any guaranteed income from annuities — to maximize after-tax income and minimize risk.
Plan for Surprises
Inflation, market downturns, healthcare events, and longevity all need to be factored in. The plan should be stress-tested for the things you hope won't happen but might.
The Bottom Line
Income planning is the bridge between the savings you've built and the retirement you want to live. A thoughtful plan turns uncertainty into confidence.