Brady Speers of Mansfield, Texas is a retirement planning expert that hosts his very own radio show and offers his services to those inquiring about retirement and planning for the future. Please contact Brady today if you have any questions or concerns about your financial future. Enjoy the slideshow and feel free to comment and share!

1. How Do I Create a
Retirement Income Plan?
Brady Speers

2. • Proper income planning is one of the most crucial pieces
of any solid retirement plan
Before one can start the journey of retirement, an income
"road map" needs to be laid out to ensure the trip into the
best years of life are financially as stress free as possible
Studies have shown that retirees worry the most about not
having enough money to live on as they get older and
with more and more people living into their 90s it
becomes even more critical to plan accordingly

3. • The irony however, is the fact that so many
people enter retirement without a properly laid out
structured income plan
An income plan can be as complicated or as simple
as one desires, but either way, it is something that
needs to be created
Below are five key aspects a good retirement
income plan will address and focus on

4. • Once you decide to officially retire more than likely your active income sources (meaning job) will stop almost
immediately
This creates an obvious income gap
Income gaps are times in which cash flow has decreased from previous levels and there is a sudden shortage in the
amount needed to pay the bills and live life as is
For most people these occur when paychecks cease, an annuity runs out, dividends cease, or incomes stop due to the
death of a spouse
The funds you have saved for retirement should be used solely for these gaps
However, there are certain ways in which you can maximize the value of these funds when covering those gaps
Merely pulling the funds out of the bank or investment accounts may not make the most sense. Have an analysis done
that can help you determine which way is the most cost effective way to fill in the gaps
Income Gaps

5. • When doing income planning it is vital that you consider purchasing power and
the effect inflation will have on your ability to maintain the lifestyle you desire
Normal inflation runs around 2%, but everyone knows our normal expenses in life go up
by more than 2% a year these days
Consider if we have a period of hyper-inflation and the numbers could be even worse
Make sure your income plan is designed to include rising income payments or
periodically gives you income increases to offset and counter inflation
Flat income plans may look good initially, but remember, you could live another 20, 30 or
even 40 years from the day you retire!
Inflation

6. • You have spent your entire life saving and growing money for this point in your
life - retirement
Now is not the time to take big gambles on the market
Another large market correction could reduce your nest egg by thousands of dollars
and for most people that would be catastrophic for many reasons
One being the time it would take to recover such losses and two being the fact that you
may no longer have an active income stream from a job with no ability to re-
grow savings lost in the market
Focus on making sure your nest egg is protected inside safe-money concepts
Safety of Funds

7. • Nothing is scarier than thinking about outliving your money, but today's market place
includes financial products that can contractually guarantee that this won't happen
Indexed annuities might not be considered a good growth investment by many, but they are
absolutely the best way to protect your funds from downside loss, give you respectable
growth, while at the same time providing an income you cannot outlive
There are other safe money annuity types as well such as deferred annuities and immediate
annuities
There are also variable annuities but fees are generally much higher and your funds are at risk
Consider meeting with an income planning professional that can show you how to allocate a
portion of your nest egg inside a guaranteed income structure allowing you to sleep
better at night and truly enjoy this time in life
Guaranteed Lifetime Income

8. • There are literally thousands of options and strategies that can be used to
increase your social security benefits over the course of the lifetime of you and
your spouse
Many professionals now have the ability to assist their clients with systems and
software that can help determine which options might increase your benefits
It is worth the time and expense to take a look at how maximizing your benefits can
increase your overall, long term income plan
Before filing to start your social security benefits consider having someone assist you
in taking a look at options that may give you more money long term and how
social security income can work in conjunction with your other retirement
income sources
Maximizing Social Security Pt.
I

9. • In conclusion, keep in mind there are only two things you can do with all of this
money you have accumulated throughout your life - you will either spend it on
yourself or you will leave it for someone else to spend
You aren't taking it with you
That being said, make the effort to meet with an experienced professional and take
what's needed and put it into an income plan that will guarantee your income
and protect those funds from market risk
Whatever isn't used for income purpose can be focused on growth for additional
financial needs or wealth transfer, but at least then you won't lose sleep at night
worrying about the next market downturn destroying your income for decades
to come
Maximizing Social Security Pt.
II

10. My firm helps retirees
properly plan and layout
their income needs
from a safe-money
perspective.
Visit my website
http://www.saferetirementexp
erts.com/ for more
information on how I could
personally assist you.