Retirement Income Planning Center

Income Planning Basics

Here is a great place to start your retirement income plan because the resources here cover all of the basics and the critical fundamentals. You may be surprised at some issues of retirement income planning—like what the Trinity Study (below) teaches you about holding stocks or stock funds in retirement. The best place to start your retirement plan is with the four major pitfalls to avoid.

Will Your Money Last?

There is a common misconception that when we make our retirement income plan, we should reduce our exposure to "risk assets" like stocks or stock mutual funds. But if you over do it, you'll be worse off. As the Trinity Study teaches, you must have a significant portion of your assets in equities for your retirement planning to work.

Retirement Calculators

Retirement Income - Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement. Your annual savings, expected rate of return and your current age all have an impact on your retirement's monthly income.

Retirement Planner - Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your social security benefits up to, but not over, the maximum.

Fixed Annuity Calculator - Annuities can provide a guaranteed minimum interest rate, with no taxes due on any earnings until they are withdrawn from the account. Use this calculator to help you determine how a Fixed Annuity might fit into your retirement plan.

Immediate Annuity Calculator - Immediate Annuities will provide an increasingly important role in many retirement plans as they can provide an income you cannot outlive (like social security).

Long Term Care Calculator - With nursing home expenses exceeding $75,000 annually, preparation for long term care is essential to any retirement income plan. Long term care is needed by those who can't perform the basic tasks required to take care of themselves. This can include people suffering from a debilitating illness or chronic injury. The need for long term care can arise unexpectedly, often creating a large financial burden, but not if you plane ahead for this contingency.

Select a Retirement Planner

There are risks in selecting a financial planner whether before or after retirement and those risks include integrity, knowledge and ethics of the individual. But the additional risk in selecting a retirement income planner is that most financial planners are trained in the accumulation of assets but in retirement, you are concerned with the proper and orderly distribution of assets. So unfortunately, the education of most financial planners has not caught up with the need for distribution, or income planning

How to Select a Retirement Planner (retirement financial advisor)