{"id":14,"date":"2019-03-19T17:07:24","date_gmt":"2019-03-19T17:07:24","guid":{"rendered":"http:\/\/gpswp.com\/seniorcareofmichigan\/?page_id=14"},"modified":"2019-08-28T14:18:42","modified_gmt":"2019-08-28T14:18:42","slug":"income-planning","status":"publish","type":"page","link":"https:\/\/gpswp.com\/seniorcareofmichigan\/income-planning\/","title":{"rendered":"Income Planning"},"content":{"rendered":"<p class=\"lead\">Enjoy smooth sailing in retirement with proper income planning.<\/p>\n<p>Income planning for retirement can be a daunting task. For many retirees there can be a lot to learn and for many of you the information is relatively 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<hr>\n<div class=\"embed-responsive embed-responsive-16by9\">\n  <iframe loading=\"lazy\" src=\"https:\/\/player.vimeo.com\/video\/263402351\" width=\"640\" height=\"360\" frameborder=\"0\" webkitallowfullscreen mozallowfullscreen allowfullscreen><\/iframe>\n<\/div>\n<hr>\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>Preparing for your retirement may require a shift in mindset, and a solid understanding of the difference between retirement savings and retirement income. 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 the proper methods of creating additional income from what you&#8217;ve saved. Although this can represent a challenge for many, it also represents a great opportunity to 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.<br \/>\nWe 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<ul>\n<li>Determining how much retirement income you will need<\/li>\n<li>Estimating how long your current income plan may last<\/li>\n<li>Calculating how much additional income you may need<\/li>\n<li>Evaluating your additional income sources<\/li>\n<\/ul>\n<p>Because taxes play a major role in any retirement income planning process, our firm will utilize the most tax advantaged vehicles to accomplish your retirement income goals, such as traditional IRAs, Roth IRAs, 401(k)s, and IRA rollovers.<br \/>\nKeep in mind, while the numerous options for your retirement savings may seem overwhelming, all of us at Senior Care of Michigan are here to help you make sense of it all.<\/p>\n<p><em><small>We do not provide legal or tax advice and you should consult an attorney or tax advisor for such advice.<\/small><\/em><\/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 there can be a lot to learn and for many of you the information is relatively new. Whether you are just setting out on your retirement journey, or it is already well underway, you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"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 - Senior Care of Michigan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Planning - Senior Care of Michigan\" \/>\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 there can be a lot to learn and for many of you the information is relatively new. 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