Retirement Income Planning

Tom lived for the moment, enjoying luxurious vacations, fast cars, fine dining and rare wines. Money flowed and he relished it. Then, when he reached his 60s, it was time to sell his business and retire. After doing so, he continued to live the rich lifestyle he had always pursued. In fact, he discovered he was spending even more money simply because he had more leisure time.

There was one problem. The income stream had dried up. Within a few months, Tom noticed his savings were disappearing. Habits, however, are hard to break. He didn’t know how to make choices and be frugal with his money. Tom realized he needed to find a job to generate income…not easy for someone used to being the boss. Also, wherever he applied, he was told he was “over qualified.” His future looked bleak, and all because he had failed to plan.

The Retirement Income Plan Building Block

Once you have established the foundation for your Business Owner’s Plan, you’re ready to add another building block: your retirement income plan. And if you have no plans to retire, consider it as your plan for financial independence. It will allow you to work because you choose to, not because you have to.

7 Steps to Financial Independence

To help you plan for your retirement, we’ll work with you to:

  1. Determine your desired retirement lifestyle.
  2. Assess current costs of that lifestyle.
  3. Factor in inflation to determine the income you’ll need in the future to achieve your desired lifestyle.
  4. Determine the assets you need to generate that income.
  5. Review your estate plan and ensure you are creating the assets required and minimizing taxes through the use of 401Ks and IRAs.
  6. Revisit your business exit plan and assess your business’ value and its contribution to your retirement.
  7. Incorporate all the above into a retirement plan that provides you with the funds you need to live the life of your dreams.

Create Your Plan for Financial Independence

Take control of your future and create your retirement plan now. Let us walk you through the seven steps to financial independence and put a program in place that can help you reach for your dreams. And for optimum success, we’ll incorporate your retirement plan into The Ultimate Business Owner’s Plan which we believe has proven its value with many of our clients.

To learn more about retirement income planning, schedule a complimentary consultation now.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Financial Solutions for Business is a member firm of PartnersFinancial. Kestra IS and Kestra AS are not affiliated with Financial Solutions for Business, PartnersFinancial, or any other entity listed. Kestra IS and Kestra AS do not provide tax or legal advice.  This site is published for residents of the United States only. Registered Representatives of Kestra Investment Services, LLC and Investment Advisor Representatives of Kestra Advisory Services, LLC, may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact our Compliance department at 512-697-6000FINRA Broker Check