Income Planning
for Retirement
As part of the workforce, you know where your income is coming from but in retirement, we typically only rely on Social Security. When you’re retirement planning, consider a retirement income plan to know where your funds are coming in from. At Inspire Wealth, we can help you take the guessing out of income planning for retirement.
Our Approach to
Retirement Income Planning
At Inspire Wealth, our approach to retirement income planning is very simple and stems around whatever you need on a monthly basis to cover your expenses. Income planning will typically include:
- Social Security Optimization
- Portfolio Income Optimization
- Income & Expense Planning
- Spousal Income Planning
- Inflation Protection
Helping you plan your income in retirement is our top priority and we do it to give you peace of mind so you can enjoy your retirement. Here’s how we view your retirement income planning process:
Covering Your Fixed Expenses
Social Security isn’t enough to cover your monthly fixed expenses, so you need to have a customized plan to determine where the rest of the income is going to come from. It’s crucial to have your fixed expenses covered on a monthly basis without worrying about market fluctuations
Living Well in Retirement
Most of our clients have worked hard to save and build wealth so they have money to spend and really enjoy the retirement they dreamed of. While their expenses are covered, it’s important to plan a budget around the “extras” you’d like to spend your hard-earned money on in retirement. So, if you need $3,000 per month to cover expenses and want another $1,500 per month to cover those “extras”, then we plan for $4,500 per month and utilize other investments that may fluctuate with market trends to cover discretionary expenses that go above the budgeted $4,500.
Planning for the Unexpected
Similar to when you are in the workforce, you need to have a retirement budget with savings and investments to cover anything unexpected that isn’t covered under that budget, like unexpected expenses like medical emergencies or home repairs. In retirement, money shouldn’t be a barrier – at Inspire Wealth, we’ll work with you to ensure you’re covered for fixed, planned, and unexpected expenses in retirement.
Our Custom Process
S
Secure Your Income
P
Preserve Your Legacy
A
Analyze Your Investments
R
Retire on Your Terms
K
Keep the IRS Out
Retirement Income Planning Resources
Ensuring your expenses are covered with predictability for the rest of your life is critical. The resources below give you some additional help in making sure you’re covered as you plan your income in retirement.
Get Help with Retirement Income Planning
Schedule a free 30 minute consultation to learn more about Inspire Wealth and what we can do to help you with retirement income planning.
Inspire Wealth and Nicholas Bour offer Investment Advisory Services through Redwood Private Wealth, 3930 E. Ray Road, Suite 155, Phoenix, AZ 85044 (“Redwood”). Redwood is an investment adviser registered with the Securities and Exchange Commission (“SEC”). Registration with the SEC should not be construed to imply that the SEC has approved or endorsed qualifications or the services Redwood offers, or that its personnel possess a particular level of skill, expertise or training. Important information and disclosures related to Redwood are available at http://www.Redwood.com. Additional information pertaining to Nicholas Bour and/or Redwood’s registration status, its business operations, services and fees and its current written disclosure statement is available on the SEC’s Investment Adviser public website at https://www.adviserinfo.sec.gov/. Click Here for Form CRS (Client Relationship Summary). Click Here for Full Disclosure.