{"id":800,"date":"2020-03-23T18:07:52","date_gmt":"2020-03-23T18:07:52","guid":{"rendered":"http:\/\/gpswp.com\/retirementadvisory\/?page_id=800"},"modified":"2020-03-23T18:09:27","modified_gmt":"2020-03-23T18:09:27","slug":"income-planning","status":"publish","type":"page","link":"https:\/\/gpswp.com\/retirementadvisory\/services\/income-planning\/","title":{"rendered":"Income Planning"},"content":{"rendered":"\n<h2>Prepare for retirement with income planning strategies<\/h2>\n\n<p>Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information could be new. Whether you are just setting out on your retirement journey, or it is already well underway, you may be skeptical of whether you&#8217;ll have enough retirement income to maintain a comfortable and enjoyable lifestyle.<\/p>\n\n<p>There are three major phases in the management of retirement income:<\/p>\n<ul>\n<li>The accumulation phase<\/li>\n<li>The distribution phase<\/li>\n<li>The preservation or transfer phase<\/li>\n<\/ul>\n\n<p>Planning for your retirement may require a shift in mindset, and a solid understanding of the difference between retirement savings and retirement income. Prior to retirement, your financial life was dictated by your paycheck. Once you retire, however, you may no longer rely on a paycheck, which means you will be left to find other sources of income. You&#8217;ve worked hard to save for retirement, and now the time has come to find methods of creating additional income from what you&#8217;ve saved. Although this can represent a challenge, it also represents a great opportunity to potentially grow your savings beyond what you&#8217;ve saved \u2014 and this is usually made easier by enlisting the help of a financial services professional that you trust.<\/p>\n\n<p>We will work with you to help you uncover the various opportunities and concerns of each phase. Additionally, we will walk you through the process of:<\/p>\n<ul>\n<li>Determining how much retirement income you will need<\/li>\n<li>Estimating how long your current income plan may last<\/li>\n<li>Calculating how much additional income you may need<\/li>\n<li>Evaluating your additional income sources<\/li>\n<\/ul>\n\n<p>Because taxes play a major role in any financial planning process, our firm will utilize tax advantaged vehicles to help accomplish your retirement income goals, such as traditional IRAs, Roth IRAs, 401(k)s, and IRA rollovers.<\/p>\n\n<p>Keep in mind, while the numerous options for your retirement savings may seem overwhelming, all of us at Retirement Advisory are here to help you make sense of it all.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>Prepare for retirement with income planning strategies Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information could be new. Whether you are just setting out on your retirement journey, or it [&#8230;]<br \/><a class=\"read-more small\" href=\"https:\/\/gpswp.com\/retirementadvisory\/services\/income-planning\/\">Continue Reading <i class=\"fa fa-long-arrow-right\"><\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":669,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gpswp.com\/retirementadvisory\/services\/income-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Planning - Retirement Advisory\" \/>\n<meta property=\"og:description\" content=\"Prepare for retirement with income planning strategies Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information could be new. 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