{"id":60,"date":"2017-01-06T14:55:12","date_gmt":"2017-01-06T21:55:12","guid":{"rendered":"http:\/\/gpswp.com\/tunnellfinancial\/?page_id=60"},"modified":"2021-06-02T12:38:23","modified_gmt":"2021-06-02T18:38:23","slug":"income-planning","status":"publish","type":"page","link":"https:\/\/gpswp.com\/tunnellfinancial\/services\/income-planning\/","title":{"rendered":"Income Planning"},"content":{"rendered":"<p><strong><em>Enjoy smooth sailing in retirement with proper income planning.<\/em><\/strong><\/p>\n<p>Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information is new. Whether you are just setting out on your retirement journey, or it is already well underway, you may be skeptical of whether you&#8217;ll have enough retirement income to maintain a comfortable and enjoyable lifestyle.<\/p>\n<p>There are three major phases in the management of retirement income:<\/p>\n<ul>\n<li>The accumulation phase<\/li>\n<li>The distribution phase<\/li>\n<li>The preservation or transfer phase<\/li>\n<\/ul>\n<p>Planning for your retirement may require a shift in mindset, and a solid understanding of the difference between retirement <em>savings<\/em> and retirement <em>income<\/em>. Prior to retirement, your financial life was dictated by your paycheck. Once you retire, however, you can no longer rely on a paycheck, which means you will be left to find other sources of income. You&#8217;ve worked hard to save for retirement, and now the time has come to find methods of creating income from what you&#8217;ve saved. Although this can represent a challenge for many, it also represents a great opportunity to help grow your savings beyond what you&#8217;ve saved \u2014 and this is usually made easier by enlisting the help of a financial services professional that you trust.<\/p>\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/player.vimeo.com\/video\/263402351\" width=\"640\" height=\"360\" frameborder=\"0\" allow=\"autoplay; fullscreen\" allowfullscreen=\"\"><\/iframe>\n\n\n\n<p>We will work with you to help you uncover the various opportunities and concerns of each phase. Additionally, we will walk you through the process of:<\/p>\n\n\n\n<ul><li>Determining how much retirement income you will need<\/li><li>Estimating how long your current income plan may last<\/li><li>Calculating how much additional income you may need<\/li><li>Evaluating your additional income sources<\/li><\/ul>\n\n\n\n<p>Because taxes play a major role in any financial planning process, our firm will utilize tax advantaged vehicles to accommodate your retirement income goals, such as traditional IRAs, Roth IRAs, 401(k)s, and IRA rollovers.<\/p>\n\n\n\n<p>Keep in mind, while the numerous options for your retirement savings may seem overwhelming, all of us at Palmetto Wealth Planning are here to help you make sense of it all.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enjoy smooth sailing in retirement with proper income planning. Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information is new. Whether you are just setting out on your retirement journey, or it is already well underway, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":190,"parent":6,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Income Planning - Palmetto Wealth Planning<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gpswp.com\/tunnellfinancial\/services\/income-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Planning - Palmetto Wealth Planning\" \/>\n<meta property=\"og:description\" content=\"Enjoy smooth sailing in retirement with proper income planning. Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information is new. 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Income planning for retirement can be a daunting task for many retirees because there is a lot to learn, and to many people a lot of the information is new. 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