Income Planning

Is your income plan effective? Are you pulling income from the most efficient place?

Planning for independent income incorporates all of the elements of financial planning. You must account for income, expenses, investments, and taxes. It is also important to recognize the unique aspects of an independent phase of life.

Once you reduce or eliminate the income from your work earnings or from spousal earnings, you necessarily need to be more cautious about the risk you can take. However, a well-defined and balanced plan will make you better understand your sources of income and prepare you to make the most of your personal possibilities.

LBA Wealth Management offers income planning to our clients who are within five years of retirement or find themselves newly independent. Our Income Plan includes:

  • Looking at income timeframes and longevity issues.
  • Analyzing your basic and discretionary expenses.
  • Understanding your guaranteed sources of income.
  • Planning reliable income for a strong income foundation.
  • Understanding risk and the power of time in investing.
  • Developing a long-term investment strategy.
  • Creating an asset withdrawal strategy.
  • Protecting your plan.
  • Implementing and maintaining your plan with LBA Wealth Advantage.