Income in Retirement
Retirement is about more than building wealth—it's about creating a dependable income that supports the lifestyle you've worked hard to achieve. The transition from accumulating assets to generating income requires careful planning, thoughtful investment strategies, and the flexibility to adapt as your needs change.
There is no one-size-fits-all approach. The right retirement income strategy depends on your goals, expenses, tax situation, risk tolerance, and legacy objectives. By combining different income sources, you can create a retirement plan designed to provide stability, flexibility, and confidence.
Building a Retirement Income Plan
An effective retirement income strategy often combines several approaches rather than relying on a single source.
The objective is to create a balanced strategy that helps provide reliable income today while preserving flexibility for tomorrow.
Retirement is not a static event. Markets change, tax laws evolve, healthcare costs increase, and personal goals shift over time. Regular reviews help ensure your income strategy remains aligned with your financial objectives and changing circumstances.
Dividend Income
High-quality dividend-paying stocks and dividend-focused mutual funds or ETFs can provide a stream of income while offering the potential for long-term growth.
Benefits
Considerations
Dividend payments are not guaranteed and may fluctuate based on company performance and market conditions.
Bond Interest Income
Bonds can help provide predictable income through scheduled interest payments while helping reduce overall portfolio volatility.
Options may include:
A diversified bond allocation can help provide stability alongside growth-oriented investments.
Systematic Withdrawal Strategies
Rather than withdrawing money only when needed, many retirees choose a systematic withdrawal plan that provides consistent monthly or quarterly income.
This approach can:
Allow investments to remain working toward long-term growth
Withdrawal rates should be reviewed regularly and adjusted as markets and personal circumstances change.
Income from Mutual Funds and ETFs
Many mutual funds and exchange-traded funds (ETFs) distribute dividends, interest, and capital gains that can supplement retirement income.
Mutual funds and Exchange-traded funds are sold only by prospectus. Please consider the investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the investment company, can be obtained from your financial professional at 262-644-5866. Be sure to read the prospectus carefully before deciding whether to invest.
These investments may provide:
Required Minimum Distributions (RMDs)
For many retirees, retirement accounts eventually require annual withdrawals. Proper planning can help coordinate these required distributions with your overall income strategy while managing taxes as efficiently as possible.
Strategic planning may help:
Pension Income and Social Security
Choosing when to begin Social Security benefits can have a significant impact on lifetime retirement income. Integrating Social Security and Pension Income with your investment strategy can help maximize retirement income over the long term.
Guaranteed Income Solutions
Some retirees choose products designed to provide guaranteed income for life, helping cover essential living expenses regardless of market performance.
Depending on your situation, these solutions may offer:
These products vary in features, costs, and guarantees, making careful evaluation important.
Ready to Address Your Retirement Income Strategy?
Whether you're approaching retirement or already retired, developing a thoughtful income plan can help you make informed decisions about your investments and savings.
Together, we can evaluate your assets, identify potential income sources, and create a personalized retirement income strategy designed to support your lifestyle, manage risk, and provide greater confidence throughout retirement.