Filling the Income Gap
Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information is new. Whether you are just setting out on your retirement journey, or it is already well underway, you may be skeptical of whether you’ll have enough retirement income to maintain a comfortable and enjoyable lifestyle.
Planning for your retirement may require a shift in mindset and a solid understanding of the difference between retirement savings and retirement income. Prior to retirement, your financial life was dictated by your paycheck. Once you retire, however, you can no longer rely on a paycheck, which means you will be left to find other sources of income. You’ve worked hard to save for retirement, and now the time has come to find methods of creating income from what you’ve saved. Although this can represent a challenge for many, it also represents a great opportunity to help grow your savings beyond what you’ve saved — and this is usually made easier by enlisting the help of a financial services professional that you trust.
We will work with you to help you uncover the various opportunities and concerns of each phase. Additionally, we will walk you through the process of:
Planning for your retirement may require a shift in mindset and a solid understanding of the difference between retirement savings and retirement income. Prior to retirement, your financial life was dictated by your paycheck. Once you retire, however, you can no longer rely on a paycheck, which means you will be left to find other sources of income. You’ve worked hard to save for retirement, and now the time has come to find methods of creating income from what you’ve saved. Although this can represent a challenge for many, it also represents a great opportunity to help grow your savings beyond what you’ve saved — and this is usually made easier by enlisting the help of a financial services professional that you trust.
We will work with you to help you uncover the various opportunities and concerns of each phase. Additionally, we will walk you through the process of:
- Determining how much retirement income you will need
- Estimating how long your current income plan may last
- Calculating how much additional income you may need
- Evaluating your additional income sources
Keep in mind that while the numerous options for your retirement savings may seem overwhelming, all of us at Cloud Financial, Inc and Cloud Investments, LLC are here to help you make sense of it all. To speak to a financial advisor in North Alabama, give us a call today!
Cloud Financial, Inc & Cloud Investments, LLC
Complimentary Consultations | Fiduciary Care | Locally Owned