Retirement Income Planning

How can I make my retirement income last?

At Skybox Financial Group, we often hear this question. It can be one of the most important inquiries of a retired person's life. At our firm, we fully understand the benefits of a well-managed retirement income plan and the results it can provide. Whether your goals include travel, arts, entertainment, sport, or just live comfortably and securely, a carefully designed income plan can make a significant difference during your retirement.

At Skybox Financial Group, we have designed a 6-step program to help optimize retirement income.

1. Understand and Evaluate
   Your dedicated Skybox financial advisor will obtain an understanding of your essential and discretionary expenses. We will help identify your income resources and evaluate how long those resources might last based on your expected longevity.
2. Identity and Manage Retirement Risks
   Whether real or perceived, you have a unique set of personal retirement risks. Managing those risks is key to a successful retirement process. Primary risks include longevity risk, inflation risk, health care risk, and investing risk.
3. Identify Distribution, Tax, and Estate Issues and Opportunities
   Over time, deferring and reducing taxes can have a substantial effect on how long your assets last and how much might be available to your heirs. We help clarify how your decisions will effect your taxes and estate planning.
4. Identify Options for Closing Potential Gaps Between Retirement Resources and Expenses
   After reviewing your finances, any income gaps will become apparent. We have identified a variety of options that you can use to fill those gaps and help you determine which ones may be most suitable.
5. Convert Resources to Income
   There are numerous strategies we can offer to construct an effective income portfolio. After reviewing the various plans available to you, we can help identify a suitable portfolio designed to meet your specific goals.
6. Maintain and Update the Plan
   As a general rule, retirement income plans should be reviewed at least annually. Just as the financial markets change, so may your personal circumstances. New retirement products will emerge and tax laws will amend. Our firm is committed to keeping you educated and current with the most appropriate income management solutions.

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