Retirement Income

Retirement accounts are a cornerstone of today’s retirement strategies. While everyone might recognize the terms “IRA” or “401(k),” it’s important to familiarize yourself with how they work so you can understand how they may play a role in your own retirement strategy and timeline. Once you approach retirement, there are so many ways you can use these types of accounts, or the funds in them, to structure a retirement that works for you. First, let’s understand [...]

In retirement, prioritizing stability is crucial—not just the growth of your account value. While it’s tempting to focus on maximizing returns, the reality is that you need a reliable income stream to support your lifestyle and replace your paycheck. Relying on market fluctuations for your financial security can lead to uncertainty and stress. Instead, having a consistent monthly income allows you to keep your savings intact while enjoying your retirement. Is a Roth IRA the Best [...]

Unfortunately, saving a ton of money in your 401(k) isn’t the last step in your retirement plan. You might think that if you have a lot of money in your 401(k), then you don’t have anything to worry about. But there are still strategies and complexities to retirement even after you’ve saved up. To put this in perspective, most financial professionals divide retirement plans into two broad categories. The first is the accumulation phase. This is [...]

One way of thinking about retirement is that it happens in phases. The length of each phase and the strategies for each are going to differ from person to person, but this can be a helpful way to break down a very complex topic. We’re going to break down each one of the phases and explain some important financial moments in each. Phase 1: Pre-retirement (Approximately Ages 50-62) This is around the age when you will [...]