{"id":47,"count":4,"description":"We believe that it is essential for those who are retired or nearing retirement to understand the best ways to navigate the complexities of planning and saving for retirement. When you work with a financial advisor from The Retirement Income Source\u00ae, you are working with a Retirement Income Specialist who understands the best ways to help preserve your savings, so you can use it as a renewable source of income for retirement.\r\n\r\nRetirement Financial Planning\r\nAs retirement advisors, we work closely with our clients to provide them with retirement planning advice that gives them the best chance of achieving their long-term financial goals. Our retirement planning services include strategies that can help you:\r\n\r\n\r\n \tGenerate steady income in retirement\r\n \tMinimize your exposure to market risk\r\n \tMaximize your tax savings\r\n\r\nAlthough the growth-based financial strategies you used during your working years might have been effective in helping you grow your retirement savings, those same strategies could jeopardize your financial security in retirement.\r\nThat\u2019s why some of the best retirement investment plans recommend that you should reduce your exposure to financial strategies that rely on stock market growth once you near retirement. Instead, it makes sense to work with a retirement consultant who can help you focus on income-based strategies designed to help you preserve your savings, so you can use it as a source of ongoing income. This is known as Investing for Income.\r\nThis does not mean that you cannot remain invested in the stock market once you near retirement. Certified retirement financial advisors and retirement specialists can help those with the ability to endure some level of market risk invest in high dividend-paying stocks as a way to enjoy steady income in retirement.\r\n\r\nRetirement Income Process, Strategies, and Solutions\r\n\r\n \tCreate an effective retirement income plan to help maintain a client\u2019s desired lifestyle over the course of retirement.\r\n \tIdentify retirement income needs and objectives and evaluate the client\u2019s current situation relative to those goals.\r\n \tChoose appropriate strategies to address income gaps.\r\n \tEvaluate taxation, estate issues, and other risks to the retirement plan.\r\n \tPrepare alternative solutions to mitigate plan risks.\r\n \tChoose appropriate strategies for monetizing assets over the retirement period.\r\n \tIntegrate approaches, risks, products, and strategies to help create an effective retirement income plan.\r\n\r\nSources of Retirement Income\r\n\r\n \tRecommend the optimal Social Security claiming age appropriate for each client\u2019s situation.\r\n \tChoose the optimal retirement age.\r\n \tChoose appropriate uses of annuities.\r\n \tEvaluate sources of retirement income including executive benefits, life insurance, benefits provided for federal employees and planning for business owners.\r\n \tUnderstand the issues in building a retirement portfolio.\r\n\r\nManaging the Retirement Income Plan\r\n\r\n \tChoose a tax-compliant and tax-efficient strategy for planned withdrawals from tax-advantaged plans.\r\n \tRecommend the best health insurance options for clients.\r\n \tSelect a method for funding long-term care needs.\r\n \tHelp a client with retirement housing decisions.\r\n \tConsider the ethical issues in retirement income planning.\r\n \tCreate and manage retirement income portfolios appropriate for each client\u2019s situation.\r\n","link":"https:\/\/retirementincomesource.com\/financial-services\/retirement-planning\/","name":"Retirement Planning","slug":"retirement-planning","taxonomy":"financial-services","meta":[],"_links":{"self":[{"href":"https:\/\/retirementincomesource.com\/wp-json\/wp\/v2\/financial-services\/47"}],"collection":[{"href":"https:\/\/retirementincomesource.com\/wp-json\/wp\/v2\/financial-services"}],"about":[{"href":"https:\/\/retirementincomesource.com\/wp-json\/wp\/v2\/taxonomies\/financial-services"}],"wp:post_type":[{"href":"https:\/\/retirementincomesource.com\/wp-json\/wp\/v2\/services?financial-services=47"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}