This service provides help in preparing you for the time when there is no longer a paycheck from an employer or a business (aka “Retirement”). Of course, everyone has their own financial situation which will include more or less assets, a high or low Social Security benefit, and possibly a pension.
Regardless as to whether the income sources are payments from the government, from previous employers, or from personally structured financial products (which may or may not be guaranteed), they may need to be supplemented with invested assets referred to as a portfolio.
There are many ways an income solution can be structured. It may include guaranteed income products such as annuities, income-producing assets such as CDs, bonds or stocks, and cash from liquidated assets which may have appreciated in value. The most important thing to remember is that the income plan must be specific, and not merely hypothetical. And, it must account for the various contingencies in life, including folks living considerably longer than the average life expectancy, and possibly not in good health.