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

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

[pengmagno]

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

[robertporter]

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

[barbiec]

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?

[stevemlejnek]

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.