Building Retirement Plan to Bridge Income Gaps

What do you want your golden years to look like? Are you planning to work? Do you want to save assets in case of a healthcare crisis? Do you plan to leave behind assets in a trust for your loved ones to receive after you pass away or combine this strategy with lifetime gifts? These are all important considerations to think about before reaching your chosen retirement age.

The traditional retirement plan may not appropriately protect you from all of the risks or challenges that your future might hold. A comprehensive plan developed with the support of an outside financial professional and reviewed by your estate planning lawyer to ensure that it meets your individual and wealth transfer goals can be helpful. You may allocate your income throughout dividends, IRA withdrawals, interest and annuity payments.

This solution is more comprehensive than most traditional approaches to retirement and can give you peace of mind now that you’re doing everything possible to safeguard yourself against risk.

Some of the things to consider when bridging retirement income gaps include:

  • Talking with your financial advisor about investing in value oriented high dividend exchange traded funds.
  • Adding annuity payments to replace a big portion of the income on your bond investments.
  • Evaluating the possibility of a modest draw down of equity in a primary residence until age 85.
  • Managing IRA withdrawals from an account invested in a portfolio that is balanced between fixed income exchange-traded funds and low fee growth.

For more information about making all of these distinct pieces work together schedule a time to speak with an estate planning lawyer. Meet with our Pasadena estate planning office to create your full plan.





Request A Consultation

"*" indicates required fields

This field is for validation purposes and should be left unchanged.