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Q: How much do yo need in Income when you no longer want to work?

A: 80-90% of your current income.

If you are a City, County, State, or Federal Employee

When you retire:

-Your pension provides 60-80% in retirement

-Social Security should provide 40%

-Savings/403b/IRA provides income and/or accumulation (Extra)

-Life Insurance provides protection (Death and some Medical) –

If you did not retire as a City, County, State, or Government employee, you probably won’t have a pension. You would have to save in a IRA, Roth IRA, or IUL.


If you retired from a Corporate job you probably saved for retirement in a 401k. If you don't want to work for the rest of your life, you have to save some of your earnings.

There are different tax codes the IRS has in place for individuals wanting to plan and save for retirement. Corporate companies save in a 401k, Teachers and Government, Federal, and State employees can save in a 403b or 457. Entrepreneurs or individuals who want to properly plan for retirement, save in and IRA or ROTH IRA. The purpose of saving in a retirement vehicle is all related to tax breaks.



Contributing a percentage from your income to a savings account is how most begin saving or planning for retirement.


Most companies do not offer pension plans any longer. 

The only occupations that may have a PENSION PLAN at the end of their career or tenure are Teachers, Government Workers, Police Officers and Fire Fighters. Hence the need to save in a retirement account.

How To Create Retirement Goals


The days of working for companies for 25 plus years are long gone. Less, than 20 years ago, baby boomers occupied most of the work force. The culture and mindset is totally different now. The eighty's babies and millennials are living in the age of information. Not only are we living longer, but more and more entrepreneurs are emerging and the way we used to do things when it came to Retirement Planning is a "thing of the past."


Creating a Retirement Plan is essential to your livelihood. It is literally creating a long term savings plan


The Biggest Concern retirees have is running out of money.


Priority 1: Determine a monthly number you will need to live on once you are no longer working to generate an income. 

Priority 2: Determine if there is a gap. An income gap is determined by writing the amount you will need in retirement minus the amount you will have coming to you in retirement (i.e. Pension, Social Security).

Priority 3: If you have a supplemental retirement account, Great Job on planning for your future self. But if you do not have a retirement account, consider contributing to your future income. Also, get help! There are licensed financial professionals who can assist.


When you're creating a financial plan, there is no one "best" product. But there are products that can be a better fit in order to help meet your goals for retirement, whether you're experienced or just getting started.


Mutual Funds




Fixed index 





BANK Money Market Accounts


Principal/premium protected

Principal/premium not protected; can lose value


Fixed Index Annuities offers protection from market downturns and are great when planning for retirement.

This chart is only meant to serve as a general guide. It does not represent any guarantees of performance individually or performance correlation or safety of the above listed vehicles.

Are you prepared for retirement.png

What is your
 Risk Tolerance?

What do you expect to be your next major expenditure?

Over the next several years, do you expect your annual income to increase?

Would you say you are conservative, moderately aggressive, or aggressive when it comes to saving and investing?

How much money
will you need in retirement?

One method of retirement planning is to project what you are currently saving and have accumulated to date and see if you will have enough to meet your retirement objectives. Use this calculator to determine when/if the money will run out during retirement and it will recommend additional savings if required.


40% of your income in retirement will come from your Social Security

Calculate your Social Security Amount - Retirement Estimator

To qualify for Social Security, you must have worked 40 quarters = 10 Years

The Retirement Estimator gives estimates based on your actual Social Security earnings record.

Please keep in mind that these are just estimates.

TIme is a wonderful asset, especially when it comes to saving for retirement.




-Capital Gains

-Interest from bond

-Distributions from IRAs, 401(k) and investment accounts

TAX - Deferred

Tax Tomorrow







-Social Security




Tax Today




-Life Insurance

-Living Trust


-Health Care Directive | Proxy



Tax Never

Life Insurance

Roth IRA

Roth 401(k)

Roth 403(b)

Roth 457(b)

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