Understanding and Managing Your Retirement Income

Retirement planning is a key part of your financial future. It takes considerable knowledge, a full understanding of your financial needs, and proper guidance. Many retirees are not fully prepared for retirement, with nearly 50% of Americans reporting that they’re worried about outliving their savings. Sound investment management can go a long way in minimizing such a concern, and portfolio diversification is an important tool.

We at Global View Investment Advisors follow a full-service financial planning model. As the leading fiduciary financial planners in Greenville, SC, our interest is not in offering investment guidance but creating a diversified portfolio of investments specifically for your long-term goals. By spreading your investments over various asset classes, we set you up for long-term growth and manage your level of risk.

Understanding Your Retirement Income Needs

Perhaps one of the biggest financial planning challenges is estimating how much money you’ll need for retirement. Medical care, housing, vacation, and living expenses have a knack for piling up, and inflation and unplanned expenses can soon bust your budget.

A sound financial plan considers both variable and fixed expenses. Fixed expenses include property taxes, mortgage payments, and insurance payments, whereas variable costs include medical expenses, vacation, and leisure expenses. Many retirees don’t fully consider longevity risk, that is, outliving your savings, which is why it’s important to have an advisor who can expertly plan for this scenario.

We evaluate your financial requirements using thorough projections so that your investments will match your financial situation. We provide you with a complete long-term income plan, enabling you to face the future with confidence.

Sources of Retirement Income

Retirement planning involves several income sources, each important for your financial security.

• Social Security: Knowing when and how to claim your Social Security benefits can make a big difference in your post-work life. We assist in analyzing alternative claiming options to maximize your after-tax income while taking spousal and survivor benefits into consideration.
  
  
• Pensions: We assess your payout options for a conventional pension, such as a one-time payment, payments in an annuity, and any additional arrangements that best serve your desired retirement aims.
  
  
• Retirement Savings Accounts (401(k)s, IRAs): Optimizing withdrawals from tax-advantaged accounts takes planning. We help you manage your distributions to minimize taxes and help sustain your retirement funds for the long term.
  
  
• Investment Returns: Portfolio diversification helps you earn a steady return through dividends, interest, and capital gain. We balance growth and safety in your portfolio to help keep your returns solid.
  
  
• Alternative Sources of Income: Rental property, part-time work, and entrepreneurial ventures can provide additional financial security for your post-work life.

The Importance of a Comprehensive Financial Plan

A balanced financial plan is not a one-dimensional focus on investments. With a long-term outlook at Global View, our planning integrates:

• Budget and Saving: We help develop a budget based on your expenses and income so that you don’t exhaust your savings prematurely.
  
  
• Investment Approach: Global View develops a personalized investment strategy based on your risk tolerance, life expectancy, and retirement objectives.
  
  
• Risk Planning: We advocate insurance and alternative resources for minimizing your assets’ risks.
  
  
• Estate Planning: We work closely with your accountant and other advisors to effectively organize your estate and help you achieve your financial goals.

By putting all these factors together in a single, coordinated strategy, we allow you to retire with confidence.

Why Choose a Fiduciary Financial Advisor in Greenville, SC?

Not all financial professionals are cut from the same cloth. As a fiduciary financial advisor, we have a legal and moral responsibility to act in your best interest, a role not shared with commission-based professionals whose first concern can sometimes be their paycheck, not your financial welfare.

We at Global View function as fee-only, fiduciary investment advisors. We don’t collect a fee for financial products. Instead, we offer objective, transparent guidance aimed at fulfilling your requirements. Whether planning for your retirement, investing, or estate planning, we strive to harmonize each recommendation with your financial objectives.

Navigating Retirement Income Challenges

Retirement planning isn’t simply a matter of accumulating assets. It’s also concerned with controlling risks that can threaten your financial security. Some of these risks include:

• Market Volatility: Economic downturns can profoundly impact your investments. Diversification reduces risk by spreading investments across asset classes. This limits your exposure to market ups and downs.
  
  
• Inflation: Rising costs eat into your purchasing power as time passes. We diversify your investments to include assets that usually beat inflation, such as stocks and real estate.
  
  
• Healthcare Costs: Healthcare expenses only increase over time. The right planning is necessary to ensure you have enough coverage and savings for any unplanned expenses.
  
  
• Long-term Risk: Retirees may outlast their assets. Sustainable withdrawal rates and long-term sources of income underlie our planning strategies.

We help you actively manage these risks so that you can enjoy your golden years with peace of mind.

How to Choose the Right Financial Advisor in Greenville 

The proper selection of a financial advisor is critical to your long-term success. In selecting an advisor, consider these factors:

• Credentials and Qualifications: Look for CFP® Professionals with a background in retirement planning.
  
  
• Fees: A fee-only financial advisor advocates for transparency and abolishing conflicts of interest.
  
  
• Services Included: Choose an advisor providing full-service financial planning, including investment management, estate planning, and tax planning.
  
  
• Fiduciary Duty: Demand an advisor legally obligated to act in your best interest.
  
  
• Client References and Reviews: Look for happy clients’ feedback and references, the kind our customers lavish on us.

Global View Investment Advisors: Your Partner in Retirement Planning

We at Global View Investment Advisors deliver individualized financial planning and investment management that closely matches your needs. 

Our profound grasp of planning for retirement and taming risk makes us your best ally, guiding you through the intricacies of long-term financial security and portfolio diversity. Contact us today for a free consultation!

We’ll Help Ease Your Mind

Long-term financial security can only be achieved with a diversified portfolio, particularly in your post-work years. With a fiduciary financial advisor, you can develop a plan that reduces your risk, maximizes your sources of income, and brings financial security to your life. Our team at Global View Investment Advisors acts in your best financial interest. Our goal is to secure your financial future and make it sound through prudent, intelligent financial guidance and investment planning.