The need for comprehensive retirement income planning services increases every day, as more and more people near retirement without the security of a defined benefit pension plan. Because pensions are becoming a thing of the past, and Social Security usually represents only a fraction of the income needed by modern retirees, a huge potential income gap exists that must be planned for in a very responsible way.
At United Solutions Group we are hard at work building, testing, and refining various income planning strategies for the population who are nearing or already retired. With the body of academic
research growing at an ever-accelerating pace, the challenge is to custom model each plan to each client’s needs, and to make sure it fit’s in their overall goals.
Below, are just three of many Retirement Income Strategies that we believe are an integral part of a comprehensive plan. While this is only a short list, knowing the principles behind each of these three distinct approaches will allow our client’s to make the right choices. We believe that the following three strategies are the foundation that one should consider before digging deeper into any of the more advanced plans.
While each of these 3 income strategies has its own advantages and disadvantages, all are viable income plans when used in alignment with the client’s objectives. Our objective here is not to give you all of the nuances that can lead you to favor certain approaches, but to make our client’s aware of the different choices that can be considered. The body of knowledge continues to grow quickly in the area of retirement income planning, and United Solutions Group advisors are without a doubt a cut above the rest of the retirement advising community.