Income Planning 

Income Planning in North & South Carolina

We understand that preparing for retirement involves consideration of various factors to strive for a financially secure future. That’s why our team of professionals is here to guide you through the retirement income planning process, helping you make informed decisions that align with your unique goals and aspirations.

Why Is Retirement Income Planning Important?

Retirement income planning is a crucial step on the path towards retirement. It involves creating a strategy to manage your financial resources effectively in order to create a potentially reliable income stream to cover your living expenses throughout your retirement years. Here are a few reasons why retirement income planning is vital:


  1. Maintaining Your Lifestyle
  2. Inflation Protection
  3. Unforeseen Expenses
  4. Peace of Mind

Retirement Income Planning Process

At TruNorth, we follow a retirement income planning process to develop a strategy tailored to your specific circumstances and objectives. Our approach uses the following steps:

Discovery & Goal Setting

During the initial phase of our retirement income planning process, we take the time to understand your unique financial situation, goals, and aspirations. We discuss your retirement timeline, lifestyle preferences, anticipated expenses, and any concerns or challenges you may have. With a thorough understanding of your needs and objectives, we lay the foundation for your retirement income plan. Take our retirement quiz to see what your strategy might be lacking. 

Financial Analysis & Assessment

Once we have a clear picture of your goals, our team conducts a comprehensive financial analysis and assessment. We evaluate your existing assets, investments, and sources of income, such as pensions, savings, and Social Security benefits. This analysis helps us identify any gaps or potential areas of improvement in your current financial plan and provides a basis for developing a robust retirement income strategy.

Custom Retirement Income Strategy

Based on the information gathered during the discovery phase and financial analysis, we craft a retirement income strategy tailored to your needs and goals. This strategy accounts for various factors, including risk tolerance, investment preferences, and desired income level.

Predictable Income

One of the primary objectives of our retirement income planning process is to provide you with a predictable income stream during your retirement years. We explore various income sources, such as Social Security, pensions, annuities, and investments, to create a diversified portfolio that can generate reliable and sustainable income.

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Social Security

Social Security is a critical component of most retirees’ income plans. We help you understand the complexities of the Social Security system, including factors such as eligibility, claiming strategies, and the impact of early or delayed benefits. By optimizing your Social Security benefits, we strive to maximize your retirement income potential.

 Pension Payments

If you are fortunate enough to have a pension, we will work closely with you to understand its terms and conditions. We analyze the payment structure and incorporate it into your retirement income plan, ensuring it aligns with your financial goals. By optimizing your pension payments, we strive to maximize your income and provide a stable source of funds throughout your retirement.


Annuities are another option to consider when planning your retirement income. These financial products offer a guaranteed income stream over a specified period or for the remainder of your life. Our team can help you evaluate different types of annuities, such as fixed or variable annuities, and determine whether they are suitable for your retirement income plan. We will guide you through the complexities of annuity contracts, including understanding fees, withdrawal options, and potential tax implications.


Cash reserves are essential for any retirement income plan. Having readily available liquid assets provides financial flexibility and enables you to cover unexpected expenses or seize investment opportunities. We will help you determine an appropriate level of cash reserves based on your circumstances and advise you on how to manage and allocate these funds effectively.

Growth Assets/ Less Predictable Income

In addition to predictable income sources, growth assets can be crucial in your retirement income plan. They offer the potential for higher returns with a higher degree of volatility and uncertainty. Examples of growth assets include stocks, mutual funds, and real estate investments. We assist you in developing a well-diversified portfolio that balances growth potential with risk tolerance, aiming to generate additional income.

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Stock Dividends

Stock dividends are a form of income that can be an attractive component of your retirement income plan. By investing in dividend-paying stocks, you can benefit from regular dividend payments that provide an additional income stream. We help you identify suitable dividend stocks based on your risk profile and long-term financial goals.

Mutual Fund Distributions

Investing in mutual funds allows earning income through distributions. Mutual funds generate income from dividends, interest, and capital gains passed on to shareholders. We assist you in selecting mutual funds that align with your investment objectives, risk tolerance, and income requirements.

Other Sources of Income

In addition to the sources above, there may be other avenues to explore when creating your retirement income plan. These can include rental properties, part-time employment, or income from a business venture. We assess these alternative income sources and evaluate their suitability and potential contribution to your retirement income strategy.

Implementation & Monitoring

Once your retirement income plan gets finalized, we guide you through the implementation process, assisting with the necessary paperwork, account setups, and coordination with other professionals, such as tax advisors or estate planners. We also emphasize the importance of ongoing monitoring and adjustments to your plan. As your circumstances evolve and market conditions change, we proactively review and update your retirement income strategy to ensure its continued alignment with your retirement goals.

Contact Us To Get Started Today!

At TruNorth, we understand the significance of retirement income planning in securing your financial future. Our team of professionals is here to help individuals and families in North and South Carolina navigate the complexities of retirement and develop personalized income plans. Contact us today to schedule a consultation and discover how our retirement income planning services can help you achieve your retirement goals. Let us provide the guidance to make informed decisions and enjoy a financially secure retirement.