Retirement income

Retirement may bring changes to both your lifestyle and your finances. It is important to have a plan that takes into account certain risks which may impact your retirement security. For employers, defined contribution retirement plans represent freedom from financial volatility, traditional pension risk, market volatility, and long-term financial uncertainty; however, they also impose new risks and responsibilities on the employer. For employees, defined contributions offer individual control, greater flexibility, and, in an ideal world, access to institutionally priced investments. Secure the future of your finance even after you retire.

Put Your Money to Work

Generating income for your retirement As you approach the time when you’ll trade your paycheck for retirement, you’ll begin relying on your hard-earned retirement income sources to help provide an income stream that will see you through your retirement years.

Determine your retirement income sources

Start by determining your potential sources of retirement income, and how much income they are likely to provide in retirement. Our investment portfolio can help you get started, and common income sources include:

Guaranteed Income (i.e. Social Security, Annuities)

Pension plans (i.e., defined benefit plans)

IRAs

Retirement savings, including 401(k), 403(b), and 457 plans

Other non-retirement savings, including brokerage accounts, savings accounts and certificates of deposit (CDs)

Categorize your retirement income sources

As you think about the retirement income sources available to you, begin grouping them into income categories such as lifetime, dividend, and interest income. Because of their predictability, many retirees use lifetime income sources to cover essential living expenses. Discretionary and unexpected expenses are generally more flexible than essential expenses, so your investable assets can help cover these costs.



Get started today Learn more about investing options available to you. Request a free retirement consultation to see if your retirement planning is on track. Consider partnering with a Financial Advisor to create an investment strategy for your retirement portfolio. BITNUEL can help you invest your savings to create predictable retirement income As you consider various strategies for investing your retirement savings, BITNUEL can help. Get started today by contacting us, requesting a retirement consultation, or learning more about withdrawal strategies for your retirement savings.