Retirement Income Planning

RIGOROUS. STRATEGIC. THOROUGH.

Getting Ready for Retirement

How can I know if I’m prepared for Retirement?

There’s a lot that goes into creating a successful retirement plan. For us, it’s one of the most fun types of planning. We’ll help you gain clarity on where you are compared to where you need to be, and together we’ll build an action plan to close the gap and make sure you’re as prepared as possible.

Retirement Income Planning Considerations

We can help you answer these questions and more:

  1. Have I really saved enough to retire when I want to?

  2. Will I run out of money in retirement?

  3. What do I do with my savings, investments, and other assets in retirement?

  4. How can I protect myself against market downturns during retirement?

  5. How much can I spend each year?

  6. Will my spouse be taken care of if I pass away?

  7. How will inflation impact my retirement over the years?

  8. How do I get the most out of Social Security or pensions?

  9. How will healthcare costs affect my retirement?

  10. Which tax shelters should I access first to supplement my retirement income?

  11. How do I save money on taxes during retirement?

  12. How can I cover potential long-term care costs in my later years?

Tax Planning in Retirement

Creating an efficient tax strategy for your retirement income plan is one of the most effective ways to make your hard earned money last longer. We’ll help you develop strategies to avoid potential tax traps and to get the most out of the tax shelters you’re already using.

4 Stages of Retirement Planning

  • This phase begins when you enter the workforce and lasts until about five years before retirement.

    The primary goal during this phase is to save as efficiently as possible into the right types of tax-shelters with an investment strategy that seeks growth and accepts a considerable amount of market risk.

  • Depending on your situation, this phase begins 5-10 years prior to your target retirement date.

    During this phase, we create a retirement income plan that is customized for your specific situation, and map out what steps need to take place in order to implement your retirement strategies.

    Some strategies can take time to prepare for the retirement income phase, and during this phase we will restructure your retirement assets into the most suitable vehicles and investment strategies to prepare for withdrawal phase.

  • Once we enter the income phase, the long-term retirement plan and primary strategies have already been mapped out and implemented.

    We will run rigorous financial projections where we determine exactly how much income we expect you to need and the sources that income will come from for each individual year of your retirement.

    We will have regular reviews and make adjustments along the way as necessary, continually updating our projections aiming to ensure you stay on track.

  • Over the years of working together during your retirement, we will develop a wealth transfer plan focused on ensuring that your assets are passed on to the individuals or organizations of your choice as efficiently and seamlessly as possible.

Let’s see if we’re the right fit for you. Schedule a complementary consultation.