5-STEP PROCESS

The Retirement Income Framework

Happy Woman

My team and I created this 5-step process so you can spend your money with confidence in retirement – REGARDLESS of the economy. 

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STEP 1: IDENTIFY

Determine Current

Financial Standings

It’s important to take the time to pull out your "retirement junk drawer" to determine what accounts you already have in place. Next, we'll need to calculate the amount of expenses you’re going to have on a monthly basis. A good starting place to figure that out would be to ask yourself these two questions. What do I need my retirement income to do? Which are your essential expenses. What do I want my retirement income to do? These are your discretionary expenses.

STEP 2: PROTECT

Maximize Sources of
Guaranteed Income

Now that you’ve figured out your expenses and identified your Protected Income Number, you then need to make sure you have a protected income stream guaranteed to come in every single month that’s going to cover that number. We'll explore the three (3) avenues, Pensions, Social Security, and Annuities, that will secure guaranteed lifetime income.

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STEP 3: REDUCE

Minimize Income Taxes

Income taxes are one of the largest expenses you’re going to face in retirement. We will examine the three "buckets" of money, Taxable, Tax-Deferred, and Tax-Free, and explore your options to distribute your money in the most tax-efficient manner. We will consider a “Roth-IRA-like” account with a unique combination of tax-deferred growth, tax-free distribution, and tax-free wealth transfer.

STEP 4: INVEST

Grow Surplus Assets

Explore the standard, passive investment approach vs. the personalized, tactical investment approach of Diamond Life Planning. Our process is a proprietary framework crafted to guide you through the necessary steps to enhance your wealth and bring stability back to your financial life. We’ll work with you to find an optimal balance between market exposure and income and principal security.

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STEP 5: MANAGE

Review on Annual Basis

As life changes, so does your plan. You may have envisioned retirement one way, but then decide you want to pay for your child’s college tuition, or wedding. During annual performance reviews we will go over a summary over the last year of your income plan. We'll also review overall performance any plans put in place, and compare it to what we originally discussed. The last and most important thing we go through is a checklist with you and reassess your needs as they may change from year to year.

COMPLIMENTARY REPORT

Retirement Income Shortfall Analysis

When you request your custom report, we will analyze your current retirement plan using The Retirement Income Framework and provide you with a rating from 1% to 100%, called Your Retirement Success Score. We will also give you a yearly breakdown of your account withdrawals and notify you if you happen to experience an income shortfall, and if we see areas that can enhance your score.

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As women, we take care of everyone else first

Schedule your free strategy session today and make yourself a priority