At Winston Salem Retirement Planning, we believe that most Americans want a retirement experience that is secure and free from the worry that they will run out of money and income.
We also believe that achieving a secure retirement income does not happen by accident – it is the result of thoughtful planning and analysis to determine how your retirement savings can best be used to create your income security.
We specialize in creating secure retirement income strategies based upon a specific process that results in a “retirement paycheck” based upon guaranteed and insured income streams.
Retirement income planning is a complex puzzle of personal and financial goals, each of which impact the other, including common concerns such as:
- How will I coordinate my retirement savings, Social Security benefits, pension, and other income sources to last for twenty years or even longer in the face of uncertain economic conditions?
- Can I really get the security and peace of mind of knowing that a significant portion of my retirement income is protected no matter how the financial markets and the economy perform?
- Are there proven ways to reduce my income taxes during retirement?
Put another way, how to achieve retirement income security in an insecure world?
A Brief Look At Our Process
As part of getting to know you our logical process begins with identifying your two types of income during retirement. We call them Essential Income and Extra Income.
Essential Income is the income that you need to remain comfortable for the entirety of your retirement horizon. For most people this includes the income for life’s basic needs such as a home, food, transportation, and medicines. Essential Income must be reliable, predictable, and steady for the entirety of your retirement horizon. It is the income that you need and count on to maintain the comfort of your lifestyle and your essential needs.
Extra Income is the additional income that you want for fun and family. This is the income you want for travel, hobbies, and to help your family. If the “economic weather” is good, your Extra Income may be high, and less so if the weather is bad. If your Essential Income is reliable and maintains your needs and comfort in all “weather”, your “fun money” can fluctuate, because you will always at least be comfortable. Does this make sense?
Based upon your needs and desires, we then perform extensive analysis using software and our experience to create a retirement income plan that is founded upon guaranteed and insured income streams to ensure that you do not run out of income no matter how long you live.
The result is a logical plan for Creating Your Retirement Paycheck
Total retirement savings assets are separated between “Primary Income Assets and Growth and Extra Income Assets.”
Primary Income Assets are used to provide your Essential Income, closing your Essential Income Gap for your anticipated lifetime. This ensures that you will always have the income you need to remain comfortable.
Growth and Extra Income Assets provide portfolio replenishment and potential growth, extra “fun money” income withdrawals, and provide the growth opportunity for you to leave a legacy to your family.
Our process determines as closely as possible the exact amount of your total assets that are needed to provide and protect the income needed to close your Essential Income Gap for your anticipated retirement span.
There is no room for guesswork – there is too much at stake.
We believe our process is a logical and flexible approach to creating your retirement paycheck and balancing the goals of security and flexibility.
Our process results in a written plan to creating your retirement paycheck. Your written plan provides all the details of the recommended solution and its projected and guaranteed results for the entirety of your anticipated retirement.
A secure retirement income in an uncertain world is possible – we can help you make it happen!