6 – Undertake A Retirement Income Feasibility Study

This is often where “the rubber meets the road”: Can you afford the
lifestyle you seek without the risk of outliving your resources?

The issues are too numerous and calculations too complex to project
your lifetime income using a “back of a napkin.” Sophisticated
software is a must!

Your analysis will help determine the investment of your
portfolio—and serve as its benchmark of success in future years.


Project anticipated after-tax expenses based on a review of your recent expenses
  • Annually recurring (food, utilities, insurance) vs. periodic (travel, auto purchases, major expenditures)
  • Essential vs. discretionary
  • Healthcare costs
  • Maintenance of residence
  • Contingency expenditures
  • Increase expenses for the loss of purchasing power due to inflation
Evaluate “worst case” scenarios involving prolonged illnesses, home medical care and assisted living
Review Social Security projections
  • Claiming strategies
  • Options to minimize taxation
Project an achievable income stream which you cannot outlive
  • Include income from all sources, e.g., pensions, real estate, etc.
  • Project state and federal income taxes as an additional expense
  • Match income with future expenditures
If necessary, evaluate your debt for:
  • Accelerated reduction
  • Elimination