Financial Advisor how-to

How to Build a Retirement Income Plan

Retirement needs a paycheck plan.

Updated By the Career Education Institute Curriculum Team
Quick answer

Retirement needs a paycheck plan. In short: estimate; list; plan, then complete the remaining steps below.

Step by step

  1. Estimate spending.

  2. List income sources.

  3. Plan Social Security timing.

  4. Set withdrawal order.

  5. Plan for taxes.

  6. Stress-test for bad markets.

Safety reminders for financial advisors

  • Act in clients’ best interests
  • Protect client data
  • Follow FINRA and SEC rules
  • Watch for elder financial abuse

Fiduciary · CFP · Asset allocation · Diversification · Risk tolerance · Rebalancing: see the full financial advisor glossary.

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