Retirement Income Planning Services in Costa Mesa, CA
Our team at Sterling Wealth Partners specializes in creating personalized income and retirement income plans that align with your unique financial needs as you prepare for your future.
Our Approach to Income Planning
Our approach to income planning is designed to give you a comprehensive understanding of your financial situation as it reflects your lifestyle and financial priorities. Our personalized strategy looks at your income sources, current earnings, retirement savings, and debt in order to better prepare you for future expenses, like college tuition and healthcare costs. Using our IN*SIGHT FORMULA, we help you identify and plan areas where you can save and maximize your future investments.
Retirement Income Planning
In tandem with our overall income planning strategy, our approach to retirement income planning looks at potential income sources, including Social Security benefits, pensions, and investments, to better develop a plan for you in retirement. We can also look to help manage debt and plan for major future expenses.
Our income and retirement income planning strategy includes:
- Reviewing Your Income Sources
- Expense and Budgeting
- Debt Management
- Planned Large Expenses
- Required Minimum Distribution (RMD) and Withdrawal Strategies
- Pensions and Cash Flow Analysis
Our experienced financial advisor is here to provide you with personalized guidance that fits your income and retirement income planning goals. With a comprehensive approach, all aspects of your financial situation are considered so you find comfort in knowing your finances are in order.
Schedule a consultation with us today to discuss your income planning goals.
Retirement Income Planning FAQs
Retirement income planning is creating a financial strategy that looks at your current finances, future finances, and any goals you wish to see as you enter retirement. Part of the plan includes saving, investing, and managing your investments wisely.
It's hard to determine what the most popular retirement plan is because it depends on your individual circumstance. Common ones include 401(k)s, IRAs, and pensions, but a financial advisor can better assist you with your unique situation.
A good monthly retirement income depends entirely on individual factors like where you’re located, what your lifestyle is like, and what your expenses are. Some reports say that you can expect to spend 70 to 80 percent of your pre-retirement income when in retirement.
Healthcare is usually the biggest expense, resulting from factors like chronic conditions, medication, and long-term care.