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Retirement Income Planning

For many, leaving the workforce and a steady income behind to now live off your investment portfolio and social security is a real concern.  How much can I safely withdrawal from the portfolio and what happens during a market correction?  What investment accounts do I draw down, and in what order?  How and when should I take social security to maximize my plans success?  Our job is to provide clarity to these and many questions you face entering retirement, helping navigate this exciting chapter in life.  

Portfolio Safe-Withdrawal Rate

Creating a consistent income stream that can be relied on throughout retirement is key to your plan's success.  Understanding how much you can draw from the portfolio and what happens during market volatility is critical. When calculating your optimal withdrawal rate, we look at your tax situation, time horizon, portfolio diversification, the current market valuation, and ability to be flexible in spending. Extensive research and well-known studies back our approach.  

Withdrawal Strategy

Creating a detailed withdrawal strategy identifies how, when, and where to draw down assets - with the main goal of limiting the tax drag and ultimately extending the life of your portfolio. This can be an extensive analysis taking into consideration your personal tax situation, income streams like pensions & social security, and your different investment accounts (Pre-Tax, Tax-Fee, and Taxable).  After going through this process you will know what strategy is best for you given your goals.

Maximizing Social Security

For many, social security makes up a large portion of their overall retirement income picture.  As a result, you should make sure you get the most out of it.  We collaborate with you to help determine when to take it and what to do if changes are made to maximize your benefit.  We utilize sophisticated software to perform these calculations to show break even points and the total benefit expected over your lifetime.  Your social security income strategy should be tailored to your needs and goals.

What Value Does Phillip James Financial Add?

  • Create a steady income stream in retirement

  • Understand exactly what it takes to retire

  • Be confident about your retirement

  • A tax efficient withdrawal strategy