Retirement Income Planning
Saving enough money to fund your retirement is only the first step in preparing for retirement. Whether you are saving to find a home to retire to in Portsmouth, or preparing to send your child or grandchild to UNH in Durham, you need the right plan to ensure you are covered. Once you have accumulated enough savings to actually retire you need to have a logical plan on how to most efficiently draw on those savings. And that is where retirement income planning starts.
It’s a big change to go from saving for decades, to planning for your spending for the next 25-35 years. Each person or couple will have different resources, goals, needs, and risk taking capacity when it comes to financial planning. At Verium we create retirement income plans based not only on your specific situation but also a combination of strategies to make sure you never run out of money.
- The optimal portfolio allocation for spending needs
- Strategies for your Social Security claiming
- Withdrawal strategies
- Tax efficiencies
- Focus on total return
- The role of simple income annuities
- Defining how much a person can adjust spending when markets aren’t good.
A quality retirement income plan covers many areas and uses many approaches so that your needs are covered. But you need a retirement plan to adjust when things are challenging in the markets. At Verium we not only make sure you are on track to retire, we make sure that you have a sound and logical process to create income as needed. But we plan for contingencies AHEAD of time. This allows us to have a pre-set process to deal with challenges (bad markets, unexpected expenses) before they hit.