A robust retirement income plan includes Social Security, RMDs, life insurance, pensions, annuities, optional income for life, tax strategies, long-term care, and more. We combine all of these into a comprehensive, actionable plan that gives you a road map for your retirement. As retirement approaches, some investors may consider strategies designed to reduce exposure to market volatility. These approaches can involve tradeoffs, including lower growth potential, inflation risk, fees, or limits on liquidity. At Abich Financial Services, we evaluate your income needs, time horizon, and risk tolerance to discuss how much market exposure may be appropriate for the assets you expect to rely on in retirement.
As time goes by, it’s likely that both market conditions and your personal life and plans may change from their current course, and it’s important to make sure your financial plan reflects those changes to continue working towards your ultimate goals. By constantly monitoring and adjusting your plan to help align your desired goals with suited strategies and risk tolerance, we are able to show you the big picture and how actions today are designed to help reach future milestones.
Retirement income planning is the process of coordinating the savings and income sources you’ve accumulated to help support your spending needs throughout retirement. Unlike accumulation, which focuses on growing a balance, a retirement income plan focuses on sequencing withdrawals, coordinating Social Security, and layering guaranteed and market-based income so your lifestyle doesn’t depend on any single source. At Abich Financial, we build retirement income plans around your specific expenses, timeline, and risk tolerance, not a generic formula.
Retirement planning isn’t just about reaching retirement. It’s about making thoughtful decisions before and throughout retirement that align with your goals, resources, and changing needs.
At Abich Financial, we view retirement as a journey with two distinct phases:
Focuses on building your financial foundation. During this stage, you work to accumulate wealth, save for retirement, and make strategic financial decisions throughout your working years.
Begins when you transition into retirement. This phase centers on turning the assets you’ve accumulated into a sustainable income strategy while considering factors such as taxes, Social Security, healthcare, and long-term income needs.
Each phase presents its own opportunities and planning considerations. Whether you’re building your retirement savings or preparing to draw from them, our team is here to help you navigate every stage of the journey.
Retirement income planning is where these two phases meet. The decisions you make during Retirement Ascent, how much you save, which accounts you use, and how you invest, directly shape the retirement income strategy available to you during Retirement Descent. Starting the conversation early gives you more flexibility over how and when you generate income later.
A well-built retirement income strategy typically draws on several income sources working together, including:
Choosing when and how to claim benefits to maximize lifetime income
Evaluating how these income sources may fit into your long-term retirement income strategy.
Coordinating withdrawals from IRAs and 401(k)s to manage taxes
Structuring a portfolio to generate withdrawals while managing market risk
Drawing from taxable, tax-deferred, and Roth accounts in the order that helps reduce your lifetime tax bill
Protecting your income plan from healthcare costs and preparing for the transfer of remaining assets
We evaluate how these pieces fit together for your household, then build a retirement income plan designed to adjust as tax law, markets, and your own goals change over time.
Even a well-funded retirement can be disrupted by risks that don’t show up until income actually needs to be drawn. Our retirement income planning process is built to address:
The danger of taking withdrawals during a market downturn early in retirement, which can permanently reduce how long a portfolio lasts
The erosion of purchasing power over a retirement that may last 20 to 30 years or more
The possibility of outliving your assets, particularly relevant given rising life expectancies
Expenses that tend to rise later in retirement and can strain an income plan that wasn’t built to absorb them
Shifts in tax policy that can affect how much of your retirement income you actually keep
We evaluate how these pieces fit together for your household, then build a retirement income plan designed to adjust as tax law, markets, and your own goals change over time.
Based in Ashburn, Abich Financial works with retirees and pre-retirees throughout Loudoun County and the greater Northern Virginia and DC Metro area. Many of our clients are transitioning out of long federal, government contracting, or corporate careers with a mix of TSP, 401(k), pension, and Social Security benefits to coordinate. We build retirement income plans that account for the specific benefit structures, cost of living, and tax considerations common to this region.
Download Seven Steps Toward a Long-Lasting Retirement—your guide to enjoying a secure and fulfilling future. This resource covers essential topics including retirement income planning, Social Security strategies, tax-efficient investing, long-term care, and legacy planning.
Retirement is about the future, but getting the most out of it requires proper planning in the present. Fill out the form below and a member of the Abich Financial team will reach out to help ensure that your retirement plans are aligned with your goals