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Income Planning

Your retirement is a lot like making a cake.

If you don’t care what kind then any recipe will do. Usually in retirement there are specific desires, and what works for one person may not work for anyone else.

Retirement income comes with lots of options to pull together: Social security, savings, investments, retirement accounts, Roth IRAs, Real estate, Insurances, Businesses. Taking income is not equal across all options. Capital gains and ordinary income, taxation of Social Security can create very different results over the retirement years.    How you combine these options affects how long your income will last and how much is lost to income taxes.

 To stretch your income as long as possible you might take income from assets in this order: Investment account, retirement plans, social security, Roth IRA, Life Insurance.

 If the concern is to pay the least amount of taxes now, you might be better off taking income in this order: Social Security, Roth IRA, Investment Account, Life Insurance, Retirement Plans.

Like cakes, retirement income structures have endless options. Let us build a better retirement income with you today.  Contact us for income help.