Retirement & Wealth
Retirement Income Planning
Turning accumulated savings into income that lasts as long as you do.
What this cover does
The accumulation question is how much to save. The decumulation question is harder: which account to draw from first, when to claim Social Security, how much to take each year, and how to survive a poor market in the first few years of retirement.
Typically included
- Income modelling across savings, pensions and Social Security
- Withdrawal sequencing across taxable, tax-deferred and tax-free accounts
- Social Security claiming-age analysis
- Longevity and inflation stress testing
- Required minimum distribution scheduling
Common add-ons
- Guaranteed income layering using annuities
- Bucket strategies separating short and long-term needs
- Legacy and beneficiary planning
- Coordination with long-term care funding
Questions
What people ask about retirement income
When should I claim Social Security?
Claiming early permanently reduces the benefit; delaying past full retirement age increases it until 70. Which is right depends on health, marital status, other income and whether you are still working. It is one of the largest reversible-only-briefly decisions in retirement.
What is sequence-of-returns risk?
A poor market in the first years of drawing income does disproportionate damage, because you are selling assets to live on while they are down. Holding a cash or guaranteed layer for those years is the usual defence.
Often taken together
Related cover
Pension Maximisation
Comparing a higher single-life pension plus life cover against a joint-and-survivor election.
Read more →Quote Retirement Income Planning
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