Planning

Income Planning

The first step is a comprehensive review and assessment of your present income sources and expenses obligations.

We will review your present financial situation and then assess the impact retirement will have on your ability to meet your future obligations and goals. Once we’ve reviewed all your current savings, investments and other sources of income including social security, we will then utilize our budget worksheets to capture all retirement related expenses, from basic expenses to items such as travel & leisure, gifting and other goals you may have.

If your retirement income will be sufficient to meet expenses we can then move to the next step, determining how to invest your remaining savings and retirement assets in a way that is suitable to your individual goals and objectives. The final plan will be consistent with comfort level with the various savings and investment options that we make available.

If there is insufficient income to meet expenses we will consider what options to use to fund the shortfall. This brings us to the critical retirement income planning phase.

Retirement income planning is the process of planning that you have sufficient income to meet all your expense obligations each month. We will start with all the basics, food, rent or mortgage payment if applicable, utilities etc. We will also be careful to include such items as travel & leisure, gifting to children, grandchildren or charities and other expense items that are important to you.

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