Step 2 of Retirement Success Plan: Income Planning

Do you have a plan for your income in retirement? How do you know which accounts to pull from, how much, and when? This is where the Retirement Success Plan comes in. In this video, Troy Sharpe discusses the second step we take in Oak Harvest’s signature Retirement Success Plan - Income Planning, where we figure out exactly much you can spend each month in retirement customized to you and your family, determine and rectify any gaps or shortfalls, and come up with a strategic plan for how and when to withdraw so that you can have peace of mind that your expenses will be covered throughout retirement.
We also discuss Social Security strategy as an important guaranteed and increasing income stream, and how to make the most of it.
00:27 Step Two: Income Planning
03:55 Income Planning in Conjunction with Tax Planning
07:43 Social Security Strategy
13:46 Determining When to Withdraw
18:44 Having a Good Retirement Management Team
Want to hear more about all the steps in our Retirement Success Plan? Check out this overview where we lay out our entire process here: • Five Important Steps t...
Watch Step 1: The Allocation Meeting: • Step 1 of Retirement S...
Watch the Butterfly Effect video mentioned: • Retirement Investing: ...
Do you need a Retirement Success Plan that goes beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at [phone] or fill out this form for a free consultation: click2retire.com/step2
Disclaimer:
This video discusses fixed-income investing and utilizes the 10-year U.S. treasury as a general representative fixed-income investment. Conclusions reached, opinions stated, and downside risks and potential returns presented should not be construed as applying to other types of bonds or fixed-income assets. Other types of fixed-income products carry different levels of risk and return potential and should be evaluated as an element of a diversified portfolio with your specific risk tolerance, investment objectives, and timeline in mind. Nothing in this video is investment advice, an investment recommendation, or an offer to buy or sell any security. Investing involves risk.
#retirementplanning #retirementincomeplanning #investmentmanagement #reducingrisk #retirementincome #retirement #retirementincomestrategies #investmentstrategies

[@missouri6014]

Great summary thank you

[@pengmagno7395]

Agree with most except for active investing and a dividend approach.

[@OakHarvestFinancialGroup]

Hi Peng! Thanks for watching and sharing your perspective!

[@stevemlejnek7073]

I'm finding income planning to be quite complex. I've got close to a ten year gap to fill between retirement and taking social security. Looking to pull income from multiple streams while also staying eligible for ACA subsidies and doing Roth conversions. It's a lot to consider, while also keeping taxes in check.

[@OakHarvestFinancialGroup]

Thanks for watching, and we understand your concern @Steve Mlejnek - We would love to assist - Please click the link below to request a free consultation with our financial advisors: click2retire.com/step2

[@robertporter1429]

Suggestion...when you "dont' fill in the "titles" of those other 3 buckets, we dont really understand what in the world they "are"? Fill in the Titles of those buckets...thx

[@barbiec4312]

At what $$ in your investments is it better to defer your SS and take from your investments as opposed to taking SS earlier in order to not take money from your investments in order to lower your RMDs?

[@randolphh8005]

Having RMDs that create tax problems, means that you have a large portfolio! That is not a bad thing. The only issue is whether you can take some of that money earlier at a lower rate or get taxed on it earlier by doing Roth conversions. You can’t avoid all taxes. The best you can do is try to manage the tax bill, but if you have plenty of money, it’s really just about minimizing taxes. You will still have plenty of money to live off even after taxes.

[@robertporter1429]

Curious....."How do you get paid?" thx

[@shosansah4629]

Do you work with folks outside of TX?

[@OakHarvestFinancialGroup]

Yes, we do provide services for clients outside of Texas. Please click the link below to request a complimentary consultation with our financial advisors: click2retire.com/step2