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Retirement Planning

How Strategies are designed to help you retire with confidence

How Strategies are designed to help you retire with confidence

Our approach to retirement income planning begins with the development of a structured plan that outlines specific strategies to address your goals and objectives, concerns, and timeline. Together, we can determine a fully diversified retirement income strategy compatible with your individual situation.

Understanding your retirement income needs

For many years, you may have pursued an investment strategy emphasizing growth to help build retirement assets. However, once retired, you need to balance your need for income with growth to ensure your portfolio is buffered against market volatility and keeps pace with inflation. This makes it critical to re-evaluate your risk tolerance and preferences to help ensure both your investment strategy and spending plan are aligned with your retirement lifestyle needs and goals.

How long will your assets last? Consider your withdrawal rate.

For most individuals, an essential part of retirement income planning is determining an appropriate withdrawal or spending strategy. What is the appropriate withdrawal rate for you—4%? 5%? 6%? By establishing a withdrawal rate that’s too high, you could deplete your savings too quickly and potentially outlive your money. And, once you’re retired, it’s important to review your retirement income plan whenever your circumstances or the markets significantly change, but at least annually, so you can adjust your spending strategy and withdrawal rate as needed. In addition, keeping the rest of your portfolio invested and diversified gives it the potential to continue growing.

Asset allocation and diversification are essential components during your years of saving for retirement. How you allocate your assets across various asset classes during this accumulation phase can have a profound impact on the savings you have upon entering retirement. However, once in retirement, the focus will likely be to include an allocation designed to meet specific income objectives, including asset protection, growth, and guaranteed income. If you want to learn more about our retirement strategies schedule a consultation with us today.

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