What it is
Figuring out how to turn your savings into a steady “paycheck” in retirement.What you get
How it works (in practice)
The advisor looks at everything you have: Social Security, pensions, 401(k)s, IRAs, savings, etc.
You talk about how much you’d like to spend each month and what must be covered (housing, food, insurance).
They build a plan that says: “In normal years, money comes from here, here, and here. If markets drop, we switch to this backup plan.”
Simple Example
You want $5,000 a month to live on.
$2,000 comes from Social Security
$1,000 comes from a small pension
The advisor sets up a plan where the remaining $2,000 comes from a mix of your IRA and savings.
They might keep 2–3 years of that $2,000/month in safer investments or cash, so if the market drops, you’re not forced to sell stocks at a bad time—you just use the safe bucket until things recover.
Important Disclosure: Descriptions of services on this page are general in nature and are provided for informational and educational purposes only. Actual services are provided solely by independent third-party advisors who participate in the Retirement Readiness Quiz (RRQ) program. RRQ is not a registered investment adviser, broker-dealer, tax professional, or law firm, and does not supervise, control, or guarantee the advice or services of any advisor. Nothing here should be considered personalized investment, tax, or legal advice, or a guarantee of future results. Before implementing any strategy, you should review the advisor’s regulatory filings (such as Form ADV), written disclosures, and engagement agreements, and consult with your own qualified professionals as needed.
