In personal wealth management there are distinct phases of money management that each individual goes through as they grow. They are the following:
This is the largest and easiest phase to navigate. Returns are driven by consistency, diversification, and time.
This phase occurs within 10 years of retirement. It involves the gradual de-risking of a portfolio and a greater emphasis on developing foundational or income driven assets.
This phase is the most challenging as it requires your portfolio to recreate a significant portion of your income without the benefit of time. It is here that the use of a qualified professional can add significant value.
Part of what makes income distribution planning so challenging is there isn’t a roadmap or a one size fits all solution to utilize. Everyone must navigate unmarked path where many of the benefits that were available during the growth phase of planning (i.e. 401K match, company benefits) aren’t available.
Also, risks are heightened in the income distribution phase. Without the luxury of a long time horizon sequence risk can wipe out half a life time of work through poor timing. Also, longevity risk threatens he stability of many retirement nest eggs.
Cantrill Financial Group LLC specializes in addressing the unique risks and challenges that exist in income distribution planning. If you have a current need for income or our about to change the strategy for your current portfolio, don’t do it alone. Reach out and let us help serve your needs first.
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