Diversification of Income Streams is Key to Achieving an Income Maximized Retirement Plan

One critical outcome in your retirement income plan is to become income maximized. This may seem obvious, but not so easily achieved.

We can’t snap our fingers and immediately turn a portfolio that’s been accumulation-focused for years into an income maximized portfolio designed to provide a lifelong retirement income stream.

Becoming income maximized helps you do more than “only making your money last up to your finish line.” It helps you get past your finish line and allows the possibility of leaving a legacy for your loved ones or your favorite charity.

View this brief video for more insights.

We are on a mission to design and implement proactive, tax-optimized retirement income and estate plans that help protect our clients from taxes and volatile markets, while maximizing lifelong income and establishing a legacy.

The 4% Rule is commonly referred to as the “safe withdrawal rate” for retirees. To achieve your wonderfully rich retirement, you need more than a “safe” general guideline.

Generalities are not enough. The 4% rule and other rules of thumb do not consider your lifestyle and your goals. Becoming retirement income maximized requires multiple tailored strategies that create income from diversified income sources.

During your working years, you’ve been updating your income plan regularly, though you may not have thought about it that way.

You worked hard to move up the ladder and get promoted. You may have gone back to school to get another degree or designation to increase your earning potential. Perhaps you changed companies to increase your income. Or you took the leap to start your own entrepreneurial business.

But in retirement, that external income driver doesn’t exist anymore.

Being tax savvy does help maximize income, but that alone is not enough. Our comprehensive retirement income analysis can compare multiple income-maximizing strategies.

It takes specialized planning to make this transition. Ideally, we begin years before retirement.

Reaching a Wonderfully Rich Retirement means building the most efficient, longest-lasting, tax-optimized retirement income stream, and can enable some clients to get to a zero-tax rate at some point in their retirement.

While our practice is keenly focused on tax minimization strategies, Charles W. Rawl & Associates, LLC does not provide tax or legal advice. We provide proactive financial planning advice and work closely with your tax and legal professionals to implement the plan.