Income Planning

Not too long ago, most people did not have to worry about developing an income plan at all. Back then, you had your company pension to rely on, and if that wasn’t enough, Social Security covered the rest. My, how times have changed!  Let us help you develop a customized income plan that is not dependent on Wall Street’s uncertainty or winning the lottery.

What is Income Planning?

These days, employers have switched over from defined benefit programs to defined contribution. Social Security benefits alone do not provide enough money for most retirees. So, you are now in charge of creating your own pension (or an income plan) so that you have enough money to live on! We’re not talking about investing your dollars in the market and hoping you achieve a big enough return to pull 5% off the top, either. You need a concrete plan, otherwise, there’s a huge likelihood that you will run out of money.

Having an income “Schedule”

It is important to factor in and schedule your income from all sources. We can help you determine the best strategies for when to claim your social security benefits. Did you know there are excellent Social Security claiming strategies that help you get $50,000 even $100,000 more out of your lifetime benefit? By coordinating and setting up a schedule for your income, you no longer have to worry about whether or not your paycheck will come in this month, or the next. Your income will never be tied to stock market performance again. And, by factoring in future inflation, when the time comes, your monthly paycheck will “adjust” itself. Which means when your $1,000 isn’t worth $1,000 anymore, you won’t have to sweat! This approach will help you sleep at night, never  having to worry about running out of money.