A retirement income plan starts with a number most people have never written down: what your life actually costs each month, separated into fixed essentials and discretionary spending.
Next comes the income you already have coming. Social Security, any pension, rental income, and part time work. The gap between essentials and guaranteed income is the piece your savings has to fill.
Then you decide which assets fill the gap and in what order. Sequence matters, and so does tax treatment. Drawing from the wrong account in the wrong year can cost more than a poor investment choice.
Finally, plan for the risks: healthcare costs, inflation, and a long life. The plan should be revisited each year, because the assumptions behind it will change.
Want this applied to your situation?
The first consultation is free and carries no obligation.