How Do You Create a Simple Retirement Income Plan?

January 26, 2015


A Retirement Income Plan is needed because life changes in retirement. Your Retirement Plan should account for every year in retirement – even past your life expectancy.

For each year, make a list for you and your spouse that includes your Social Security income, pensions, and annuity income. Also list earnings from investments and working part time.

List any other fixed and regular income sources. For each year list your desired gross retirement income need. Be sure to include taxes, the effects of inflation and potential medical expenses. Then, for each year determine the gap or surplus by subtracting expenses from income. If you see that you have gaps in your retirement plan, give us a call today.

We can help you make sure your retirement years really are golden.