Income Planning FAQ
At Westminster Wealth Management, we have you—and only you—in mind.
How much guaranteed income should I have in retirement?
This is a nuanced question that varies greatly from client to client. With a conversation about what makes you comfortable, we can advise on an efficient way to create guaranteed income and non-guaranteed income.
Will Social Security be there for me when I retire?
Most likely, Social Security will be around for Baby Boomers in its current form. For those who are younger, it might become much trickier.
Once you retire, you will no longer have income hitting your checking account from a job. Our goal is to create a plan around continuing to have a certain amount of income coming in the door each month.
Having a steady stream of income is vital to retirement, and our goal is to alleviate stress surrounding retirement income. While Social Security is an excellent asset that will provide a good amount of income during retirement, it only accounts for 30-40% of total expenses for an average person. Finding the remaining 60-70% is key.
Stocks, mutual funds and variable products are not suitable for all investors. Before making any purchases you should carefully read the prospectus and prospectuses for the underlying investment portfolio of variable products and other information about the investment company. In addition to carefully reviewing the prospectus you are advised to consider carefully the investment objectives, risks, charges and expenses of the investment before investing. A prospectus may be obtained by contacting Westminster Wealth Management or directly from the mutual fund, insurance company, or offering entity.