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Retirement/Retirement Income Planning

Retirement Income Question

Would you feel better if you are and your spouse had the resources needed to retirement comfortably?

The assets you have accumulated for your retirement most likely are in a 401 (k) plan, an IRA, a company pension, or individual investments. we are finding that even with all the different sources added together they are inadequate to provide income to keep your current standard of living after you retire. We can help you reach a point where you can afford to save more.

The hard decision is how to climb down from the accumulation mountain.

Picking investments from a lineup that was chosen by your employer when working is much easier than deciding which of those investments to sell each month to provide income. 

It sounds easy when advisors talk about using the 4% rule and Monte Carlo simulations to predict monthly income to life expectancy. But in recent years Morningstar, a firm that analyzes investments has stated that 2.8% withdrawal is more appropriate. That means you can expect only $28,000 annually before taxes if you have a $1,000,000 in your retirement plans. There has to be a better way for some one who has accumulated $1 million..

A Monte Carlo system has been developed in the past few years and it runs random simulations of retirement withdrawals using the actual past returns of the stock market. After imputing the amount of monthly income you indicated you will need and a estimated an inflation rate the program will present a picture illustrating up to a 90% success ratio that you will not run out of money at a pre-deterined life expectancy. 

What if you are in the 10% section or you live beyond life expectancy? What will you do for income?

It is important to know how much you really need to live securely and get that amount of income in retirement.  

Another concern that is surfacing more and more is cognitive abilities of seniors as they are able to live much longer. When and to whom do you turn over the control of your assets. Have you even considered this option. Many serious financial mistakes have been made when the person making financial decisions waits too long and takes risks that result in tragic losses .

Also the worry of running out of money concerns the uncertainty involving medical costs.  Will there be enough funds available for medical needs as well as income needs?  We work with you to find the right combination of products to help secure a lifetime income while also working to anticipate the need for funds for your health care.


We can add insight to all of these issues for you.

Contact us now to explore your options

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