You have spent your entire life saving diligently to secure financial independence. Now you have decided to leave the workforce in pursuit of other interests. So how do you turn this pile of assets into a sustainable stream of income to replace your paycheck? This is when retirement income planning comes into play. Managing an investment portfolio during the accumulation period, where you are consistently making contributions to reach a long-term goal, is very different from managing a portfolio when you need to start taking distributions instead.
In today’s market environment of ultra-low interest rates and volatile capital markets, it can be beneficial to have a retirement income planning expert help to make sure that you have a plan that makes sense for you and to structure your portfolio to reduce volatility, to continue to grow to offset inflation, and allow for the withdrawal of consistent income to replace your paycheck in retirement.
Some of the specific benefits include:
- Understanding the benefits that you may receive from your employer
- Starting a monthly withdrawal from your investment account(s) to replace your paycheck
- Using strategies to maximize your social security benefits, including seeking optimal timing for the application for benefits by you and your spouse
- Allocating a portion of your portfolio to dividend and income producing assets
- Setting aside a safe pool of assets for a certain time period so that you don’t have to be selling investment assets during a down market
- Investing for growth to stay ahead of inflation so that withdrawals can be increased over time to sustain your standard of living in retirement
- Ensuring that a Long-Term Care event will not devastate your family financially
- Continuing to professionally manage your investment accounts with the goal of achieving optimal results in accordance with your toleration for risk while meeting the stated income objectives
Contact us now to schedule an appointment with one of our educated, experienced and knowledgeable financial planners in Peachtree Corners.