Retirement Income Planning
Saving and Investing for Retirement
You've spent a lifetime saving. Now it's time to make the best use of your savings. The ultimate goal for most retirees is making sure their assets last as long as they live. Once a person or household no longer can rely on earned income to pay the bills and save for the future, balancing income and expenses becomes the primary focus of financial planning. And because of increasing longevity, managing cash flow is more critical than ever. A typical American electing to retire in his or her mid-60s may expect to live 20 or more years after retirement.
These and other factors make it important for you to develop a sound plan aimed at building and protecting your assets so you can enjoy life and maintain your desired lifestyle. A good retirement income plan should help create and implement strategies to keep your investments diversified and structured to provide the needed income, growth and tax efficiency.
A Retirement Portfolio That Gives You Solid Financial Income
To live well in retirement, you no longer can rely solely on a company pension plan or Social Security. Instead, you will have to depend on how skillfully you plan and invest, and whether you make good use of tax-advantaged savings plans such as 401(k)'s and IRA's.
Just as saving for retirement was a necessity in your younger days, asset management as a senior cannot be neglected. Although it may sometimes seem like hitting a moving target, planning your retirement income so that it can keep pace with your lifestyle is absolutely possible.
At Claycomb Wealth Management, we can help you make that happen. Shawn Claycomb has helped many clients over the past 25 years who have had to face the reality that a company pension plan or Social Security is not enough to live on in retirement. Top-notch advice on investing for retirement from a CERTIFIED FINANCIAL PLANNERTM is the key.
Let Us Help You Save and Invest Wisely for Retirement
We start by working with you to estimate how much you will need based on your retirement lifestyle. One rule of thumb is that you'll need 70% of your annual pre-retirement income to live comfortably. That might be enough if you've paid off your mortgage and are in excellent health when you retire, otherwise you may need as much as 100% if you plan to build your dream home and travel around the world.
We can help provide answers to retirement income planning questions such as:
What will my retirement income be?
Many people have don't know the answer to that question until AFTER they retire. Although market fluctuations may have their affect, we can help you determine your monthly income so that planning where and how you will live is much simpler.
Can I maintain your desired lifestyle throughout retirement?
Every senior dreads the prospect of outliving his or her retirement income. With life expectancies growing, it does happen.
But it can be avoided by adhering to a core principle at Claycomb Wealth Management--properly diversified asset allocation. Maybe you know of an individual, couple or family who lost huge amounts of money by investing in a sole entity.
Are my investments properly allocated to build and protect your income?
Diversifying your portfolio is always smart and a prime way to avoid outliving your retirement income. Many retirees load their portfolio with bonds for the income at retirement. But over 10 to 15 years, inflation easily can erode the interest payments on bonds. And there are new fears that inflation is heating up.
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
Your retirement income can be stretched for several more years if you draw on money from taxable accounts first and let tax-advantaged accounts such as 401(k)s and IRAs compound for as long as possible.
Call Us to Discuss Your Financial Future
Even if you are already retired, we can help maximize your income and ease your mind if you are worried about your financial future. Shawn has 25 years experience as a CERTIFIED FINANCIAL PLANNERTM and has provided thoughtful financial advice and guidance to many clients looking to improve the likelihood of being able to generate enough income for their retirement years.
Claycomb Wealth Management is located in Folsom, CA and serves clients throughout northern Califoria, including the communities of Folsom, El Dorado Hills, Granite Bay, Cameron Park, Shingle Springs, Placerville, Rancho Murrieta, Sloughhouse, Gold River, Fair Oaks, Orangevale, Carmichael, Citrus Heights, Roseville, Lincoln, Rocklin, Loomis, and Auburn. Call us today at 916-355-8860 to learn more about how we can help you live a carefree retirement.