Income Planning

Planning today for all your tomorrows

Income Planning

Between now and 2029, more than 10,000 baby boomers will retire each day, yet, a large portion of them consider themselves unprepared for life after work. In fact, 58% of workers aged 55 and older have less than $100,000 saved to last throughout their golden years.* Additional questions like when to claim Social Security, adds layers of complexity. With the uncertainty of government benefits, as well as the increasing longevity we face, boomers and members of the generations that follow will all be focused on one common goal: establishing a significant source of income that is guaranteed for life.

*2014 Retirement Confidence Survey. Employee Benefit Research Institute and Greenwald & Associates, www.ebri.org.

Not sure when to claim Social Security? Download the Center for Retirement Research at Boston College’s free guide. Plus, sign-up for retirement insights with our monthly newsletter below!

Your goals

The conversation often begins with one question: How much money do I need to retire?

It’s a seemingly simple question, but actually one that illustrates the complicated task that retirees face. Just like there is no one tool that can help you build a sound retirement plan, there is also no “magic number” that will let you know you have enough to retire. There are many factors that affect how long your money will last, and therefore how much you need. But in addition to those things, your ideal retirement income amount is determined by your personal goals for retirement.

Do you plan on downsizing, moving to a small cabin on a mountain lake and spending the next 30 years fishing, or do you have your heart set on traveling the world, buying a second home in a foreign country, or helping pay for your grandkids’ college tuition? Different goals, clearly, will require different incomes. 

Planning and questions

Mitigating Risks

But then it gets a bit more complicated. Today’s longer retirement comes with a number of inherent risks that we have to consider. The only good retirement plan is one that protects and provides for you for the rest of your life, and in order to do that, your plan must mitigate risks.   Clients are often seeking guidance on an array of financial risks, including experiencing protection against investment losses and how to guarantee sufficient income to meet rising costs. That includes rising health care costs, inflation, and taxes. Plus concerns about an increasingly unpredictable global market.  

You just need to create a plan based on your personal goals, assets and expenses that also takes into account all of the potential risks of a long retirement.  And here’s good news: we can do exactly that. 

Planning your move

Our Approach

Our approach starts with you, our client. Starting on a foundation of mutual respect and understanding, we dedicate the time needed to listen to your goals and educate you on realistic options.  There are ways to create a retirement portfolio based on your specific goals that also have the ideal balance of risk and safety to provide you with enough growth to produce ample income despite inflation, longevity and expenses like healthcare and taxes, but also enough safety to counterbalance market risks and protect your income and legacy. Our representatives at Trajan Wealth can help provide personalized solutions to fit your needs, so contact us today!

Meet with us

Get A Free Annuity Guide

Considering an annuity as a part of your retirement income plan?  Confused by the jargon? “Annuities Unmasked” is Jeff Junior’s complimentary guide to annuities.  You’ll learn about the pro’s, the con’s, and the key questions to ask before purchasing any annuity. 

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