Retirement Income Planning Guide

Knowing your retirement goals are essential in customizing your financial strategy for retirement. This means knowing:

1. What are your expenses?
2. How much are you able to save?
3. What do you want your income to be?
4. What will be your taxes?
5. What will be your cost of living adjustment?

By knowing your goals in retirement, we can use the appropriate techniques to help accomplish your objectives.

We want these techniques to work together, align and build upon each other so our retirement strategy is efficient and effective.

Our goal is to help you overcome your retirement obstacles, not create more.

In order to get to where you want to be for retirement, we need to audit your current financial situation is. This will allow us to identify your Financial Gap Analysis.

A Financial Gap Analysis analyzes the difference between your current financial situation from your retirement goals. The gap will take into consideration potential tax changes in retirement and legacy planning needs.

Our goal will be to minimize taxes in retirement, while protecting your loved ones financially. Once we are able to determine the gap between these two points, we can start gathering the pieces to create path to get you there.

The next piece in closing the gap is to determine your financial risk tolerance.

We want to assess your financial risk tolerance to ensure we do not recommend or implement any financial tools or portfolios in which you are not comfortable with.

If you are conservative, risk wise, we want to avoid risky funds. Our job will be to find the right combination of risk with reward, all the while being aligned to working towards your financial goals.

The final piece needed to create your financial plan and close the gap is to identify when you would like to achieve your financial goals.

Knowing the length between where you are and where you want to be, will help us identify which techniques are most appropriate in closing the gap.

If you are 60 years old starting to save for retirement in five years versus a 30 year old starting to save for retirement, the tools and techniques available and utilized will likely be different.

Determining your time horizon will be combined with your risk tolerance to ensure every step is aligned with your comfort.

Now that we know your:

• Goals
• Time horizon
• Risk tolerance
• Financial gaps

we can combine this data to create a customized investment portfolio for your retirement income planning.

It is vital all of these components are aligned and working together. If these characteristics are not, then there is a chance parts of your plan will be fighting against your wishes.

This will create unnecessary obstacles within your financial plan, making it even more difficult to achieve your goals.

As we implement the financial plan, we enter a very crucial phase - monitoring implementation.

We need to be sure the strategy goes according to plan and if not, we need to identify as early as possible, when we should adjust our methodology.

We utilize a customize time-tested Financial Early Warning System to help us identify red flags as early as possible.

A Financial Early Warning System is a customized system according to your financial plan, that alerts us when issues are starting to rise.  This system takes into consideration:

• Fund issues
• Market issues
• Economic issues
• Other potential threats

As we are notified to potential threats, we collaboratively review the issues and adapt accordingly.

The next piece in closing the gap is to determine your financial risk tolerance.

We want to assess your financial risk tolerance to ensure we do not recommend or implement any financial tools or portfolios in which you are not comfortable with.

If you are conservative, risk wise, we want to avoid risky funds. Our job will be to find the right combination of risk with reward, all the while being aligned to working towards your financial goals.