Income Planning

Income Planning

The continued uncertainty of the economy and stock market has millions of Americans worried that their retirement could be rocky and unstable. When the stock market is roaring, it’s easy enough to believe that potential gains will continue to fund a stable retirement.

Then the market and economy teeter back and forth, and you’re concerned about being caught on the downside right when you need the money. If you’re not sure how you’re going to create a paycheck-like cash flow for your retirement, you’re in the right place.

You might be asking yourself:

  • Will I have enough money to retire?
  • What happens to my income when the stock market drops?
  • How will I maintain my standard of living when the economy is struggling?
  • Is there anything I can do to help stabilize my cash flow, even if my investments are fluctuating?
  • How do I handle the uncertain future without giving up too much?
  • Will my spouse be able to enjoy a steady stream of cash flow when I’m gone?

Not confident about whether you’ll be able to turn assets into income in your later years?

Right now you may feel that you don’t have all the answers for creating a workable retirement strategy, and that’s OK. The crucial issue is to identify your challenges and find a way to work around them.

We can help you discover ways to balance chaotic market conditions with a more reliable stream of income through the turbulent times ahead.

 

Many income planning retirement strategies utilized by your parents have grown outdated and may no longer apply to when you’re looking to retire. 

Because you’ve worked hard to create a comfortable lifestyle for your family and loved ones, NorthStar Financial & Retirement Planning will help you ensure that you have a sound financial plan and a sustainable income that keeps pace with inflation and gives you peace of mind for life. 

We'll help you protect against longevity
and tax rate risk.

Transitioning your portfolio from the “building phase” to the “retirement phase” is critical to creating your stable income stream.

Fortunately, there are many strategies that don’t fluctuate just because the stock market does.

Maximize Social Security Planning & Other Strategies

We work with you to create income streams in retirement to help supplement Social Security income, reduce taxes on Social Security, and discover other sources of income you may not have realized are possible.

Personal Pensions

Asset allocation may not be enough. The stock market has shortcomings when it comes to mitigating longevity risk. We’ll work to help you guarantee you’ll never outlive your money by creating a personal pension plan.

Retirement Account Distribution Planning

Required Minimum Distributions are one of the trickiest things to get right when it comes to your money in retirement. We can help you accumulate dollars in the right types of tax-advantaged and tax-deferred accounts. 

Do you understand where and how you should use advanced income strategies in your investment portfolio? 

Key questions you should ask:

  • Am I protected from sequence-of-returns risk if the stock market continues to be volatile?
  • Am I positioned to take advantage of higher interest rates if and when they occur during my retirement?
  • Have I reviewed my portfolio to understand how my income is/will be generated?
  • Do I have a portion of my assets positioned to provide a guaranteed stream of income?
  • Have I planned for the contingency of my spouse outliving me?
  • Are there other advanced strategies for a steady income stream that I should consider?
  • Have I discussed adding advanced income strategies in my portfolio with a financial professional?
We can help you discover your next steps to take you from concern about cash flow to clarity. Give us a call for your Free complimentary Income Planning meeting (864) 297-0762.

The world of Retirement
Planning is changing.

It takes a team to specialize in retirement planning. We will help you create a clear vision for your transition to and through retirement.

Call us today for a complimentary consultation.

NorthStar Financial & Retirement Planning (864) 297-0762

Investment Management

Investment management is a crucial piece to most individuals’ financial plan. However, few take the time to weigh their options and a lack of understanding can lead to reduced income for the rest of their lives. Our goal is to maintain a reasonable rate of return while protecting your assets during market downturns.
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Income Planning

With our financial advice, we devise a plan for our clients, helping to guide them towards a more successful retirement. When creating a plan, we look at your risk level and goals, then educate and advise how you could allocate your money.
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Tax Planning Strategies

We strive to build a tax strategy that will bring our clients as close to a zero percent tax bracket as possible. Our CPA, Travis Smith, focuses on tax reduction strategies. Less taxes = more to spend in retirement!
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Long-Term Care Planning

Long-Term Care Planning requires taking the time to understand how long-term care affects each of us and finding the right solutions to protect what we have worked so hard for. We'll also help you weigh the decision between staying home and moving to a retirement community.
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Healthcare & Insurance Planning

Insurance, Medicare, Medicare Supplements and Advantage plans must be part of the conversation when building a comprehensive retirement plan. In order to help prepare for medical costs in retirement, we can help you file for Medicare, figure out which plans are right for you, and prepare for any costs that Medicare doesn’t cover.
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Legal, Estate & Legacy Planning

We understand how important family is to our clients, and we want to help them provide for their loved ones through proper estate and legacy planning. We focus on strategies like multi-generational IRAs. We also use tax mapping, so our clients can leave a greater legacy to their family. Our estate planning attorney can assist with designing your will and/or trust.
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Contact us for your
Free 5-Step Retirement Guide.

Our 5-STEP RETIREMENT GUIDE will show you what information is needed to understand the risks associated with retirement so that you can make smart retirement planning decisions.

How can we help?

It can be difficult to decide where to go for financial advice. At NorthStar, we believe in the Golden Rule: treat others the way you would like to be treated. We understand that people can be apprehensive when asking for information and assistance.

Our promise to you is that we will be respectful of your time and there will be no pressure or obligation to do business with us. We want you to be comfortable from the minute we meet!

- George

George Fossing RICP® | CLTC®, President, CEO