How Do You Create a Simple Retirement Income Plan?

Updated : Oct 24, 2019 in Articles

How Do You Create a Simple Retirement Income Plan?


A retirement income plan is needed because
life changes in retirement. Your retirement plan should account for every
year in retirement, even past your life expectancy. For each year, make a list for you and your
spouse that include social security income, pensions and annuity income. Also list earnings from investments and working
part-time. List any other fixed and regular income sources. For each year, list your desired gross retirement
income need. Be sure to include taxes, the effects of inflation
and potential medical expenses. Then for each year, determine the gap or surplus
by subtracting expenses from income. If you see that you have gaps in your retirement
plan, give us a call today. We can make sure you have a strategy to help
you reach your retirement goals.

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