Income Planning is the Foundation of Retirement

How Money Works

When you think of retirement planning, saving and investing are two of the things that likely come to mind first. That’s why many people are unprepared for the next phase of the plan, which is the shift to distribution. Knowing how much income you’ll need and where that money is pulled from is incredibly important for retirement success so today we’re talking all about this essential component of planning.

We’ll talk through different factors that we need to understand before putting together the income plan, including your income goals, cash flow, and the impact of taxes and inflation on your retirement savings. This discussion provides a look into the complexity of retirement planning and the need for thoughtful consideration and expert guidance.

Here’s some of what we discuss in this episode:

• Income goals are one of the most crucial things you should decide on as you plan for retirement.
• Understanding the taxes you’ll have to pay on your retirement savings is a big part of determining where to take your money from.
• What reliable sources of income will you have?
• Why are people usually unprepared in this area?

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