Planning for a Better Future
Get Your Retirement Income On Track
What is the underlying premise for all long-term savings? Why are we giving up current enjoyment of our income? The answer is to have an income stream in retirement. It makes sense to learn how retirement income streams work economically and define how to allocate your savings today. The sooner you get on an efficient path, the greater the impact you have on your retirement income streams. Let Destination Retirement help today.
The key is to have the skill and technique to combine different products together to create efficiency. We all have a finite amount of money to work with so we have to be as efficient as possible to create the highest and most reliable income stream in retirement by utilizing our Two Economic Powers® approach.
The Two Main Retirement Income Problems
We do not know how long we are going to live and if we did, retirement planning would be easy! By simply dividing the number of years into the total amount of retirement assets, you would find your retirement income. Then do you plan for the best or the worst-case scenario? Does that increase or decrease your distribution rate?
Determine a distribution rate before knowing the rate of return of our Retirement Assets in any given year.
Most traditional retirement plans show a constant rate of return vs. variable return. How do Retirement Assets react to fluctuating rate of returns? We have no idea what our sequence of returns will be the day we retire. What if your portfolio loses 10-15% in a given year, what is your plan of action for the following year?
Think of it like climbing a mountain. Is getting to the top the objective? Or is it really getting to the top then making it back down safely the ultimate objective? Getting up the mountain is our Pre-Retirement/Accumulation phase and getting back down is our Retirement/Distribution phase. The key being one continuous journey. Understanding how retirement income streams work defines “how you pack your bags” in Pre-Retirement.
Whether working with Pre-Retirees or Retirees, Senior Benefits Services uses the “begin-with-the-purpose-in-mind” approach to your financial future.
If you asked a typical Pre-Retiree why they are saving money long term many of them would say “for retirement,” but the understanding of retirement income streams is a much more complicated answer. This is the real reason they are saving the money, and how retirement income streams work economically defines how to allocate savings efficiently in pre-retirement. We provide Pre-Retirees the opportunity to understand how retirement income streams work for efficient allocation of savings. Knowing where you will end up is important and many people haven’t had the opportunity to look at it from this perspective.
Let us be your mountain guide to all things retirement planning.
At Senior Benefits Services, we like to use the Wealth Building Cornerstones concept. It enables people to utilize the Two Economic Powers® approach in personal planning. This approach identifies and incorporates the foundational powers of personal finance that were always meant to work together in proper balance for efficient accumulation and distribution of money.