Broker Check

Martin Financial Group

Wealth Vision

Income Planning

Want vs. Need

When developing a financial plan, many investment professionals start by determining how much income is needed to meet your retirement needs. This number is the basis for everything that follows and serves as the test for how successful the plan may be. At Martin Financial Group, we take that approach a step farther.

We believe there is more than just one number when it comes to planning for your retirement income. We feel there are actually two important numbers: the amount you must have and the amount you want to have. Understanding you’d like to have them both, there may be periods of time when it’s either not possible or not advisable to take all of your desired income. Likewise, there may be other times where more income is possible. Maintaining flexibility over time is important. We feel each need is better treated separately and that this approach can help match the amount of risk investors would like to take for each piece of their retirement income.  That’s why when we design a plan for your retirement income needs, we design two; one plan to produce the income for the things you must have like food, housing, taxes and transportation and a separate plan to generate the additional income you want for the discretionary things in life like travel, dining out and grandchildren. We believe this is just one more thing we can do to give our clients more confidence on their path towards retirement.

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