Retirement Income Playbook

Perfecting Your Follow Through: Planning for Your Retirement Years

You’ve probably heard it’s all about the follow through. With retirement planning, it’s essential that you’re not focused on the target itself, but looking beyond it to what comes after that last day at work. At Centered Wealth Strategies, we’re all about that follow through. We help you envision your retirement years, establish clear lifestyle goals, and think about how what you’re saving now will work for you during your retirement.

Instead of fixating on building a nest egg of a certain size, we support your retirement by focusing on those lifestyle goals. It’s not the investments that will pay your bills but the income you receive from them.

runners on track

Ensuring Steady, Reliable Retirement Income

Effective retirement planning requires more than just a savings goal; it requires an understanding of how to best utilize those funds after you retire. We want you to have the confidence that comes with steady and reliable income. Our team will help you gain a better understanding of how to use all income sources available to you in your retirement, from Social Security and retirement account distributions to the growth on your investment portfolio.

We’ll develop a game plan for your retirement income that fits your needs, lifestyle goals, and long-term plans for your retirement. This may include the use of annuities to provide a fixed income, a tax saving strategy to maximize your take-home earnings, and a detailed retirement income distribution plan to fund your lifestyle the way you want.

Start Looking Beyond the Finish Line

When you select assets and investments for your retirement plans, it’s not always easy to see how those decisions affect your future. Our financial advisors can help you look beyond the finish line and make sure your retirement planning efforts keep you on track to reach your financial goals. Amassing wealth and achieving above-average returns can certainly be part of the discussion, but what’s more important is how to keep you playing the game when you retire.

You won’t need your entire nest egg when you retire. Instead, you’ll want to have continuous income to live the life you want, whether that includes playing games, watching games, or traveling the world to see what life has to offer.

FAQs about Retirement Income Planning

How Can I Get a Stable Income during Retirement?

Once you’ve raced to the finish line and clocked out for the last time, your chief concern will be to receive a stable income. Our financial coaches can help you with your retirement income planning, providing you with a stable income you can rely on while managing your remaining assets for the next inning.

How Soon Can I Retire?

If you want to retire, you need one or more income streams to replace your paycheck. While you can apply for Social Security benefits as early as age 62, you can maximize those benefits by waiting until you’re closer to 70. Our financial advisors can help you understand your finances and determine the best timing for your retirement.

How Much Money Do I Need to Retire?

Most people need anywhere from 60 to 80% of their pre-retirement income, but it could be more or less depending on your current income level and your living expenses. You’ve reached the finish line when you can turn your retirement savings into a stable income that lets you enjoy the lifestyle you deserve. Our financial advisors can help you do the math and coach you to reach your personal goal. 

Where Is My Retirement Income Going to Come From?

Ideally, you’ll have multiple streams of income financing your retirement lifestyle. This includes Social Security benefits, 401(k) distributions, IRA withdrawals, investment income, and income from Roth accounts. We can also use annuities to provide you with income you can rely on.

Let’s Knock Your Retirement Out of the Park

Are you worried your savings won’t support you through your retirement years? Are you uncertain you’ll have access to the funds when you need it, if unexpected bills arise? Contact Centered Wealth Strategies today. Our financial planning coaches will help you start looking beyond that retirement “finish line” and gain an understanding of how to build a strong and stable future throughout your retirement years.