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Turning Assets Into Income

One of the most common questions facing retirees once they leave the workforce is “How am I going to replace my income?” Social Security is one source, but it hardly replaces your full income. Furthermore, you may be retiring before full retirement age and want to wait to collect a larger Social Security check. Therefore, what will you do? Widows often face the same issue when a spouse dies, particularly if that spouse was the primary earner in the family. Oftentimes life insurance and other assets have been used in the planning process, but they usually provide a lump sum. How will you turn that into income?

There are three different generally accepted methods of generating income from a pool of assets: immediate annuities, total income approach (i.e., living off of interest and dividends), and the total return approach. There are trade-offs in all three methods, but we can show you how to use the total return approach to generate retirement income that is flexible and predictable and protects against interest-rate risk and inflation risk while minimizing market risk.

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