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. 

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.

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.

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.

As women, we take care of everyone else first

Schedule your free strategy session today and make yourself a priority

DL_FINAL_Planning Dark.png

Advisory services offered through LifePro Asset Management, LLC, a registered investment adviser. For registration information on our firm, please go to https://adviserinfo.sec.gov/ and search for LifePro Asset Management, LLC or by our CRD # 285252. Advisory services are only offered to clients or prospective clients where LifePro Asset Management, LLC and its representatives are properly licensed or exempted. ​Guarantees provided by insurance products are backed by the claims paying ability of the issuing carrier. Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are NOT FDIC insured. ​Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by Advisor), will be profitable or equal any historical performance level(s). ​Information throughout this internet site, whether charts, articles, or any other statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Neither our information providers nor we shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission thereof to the user. To the extent that this website concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstance. This website is provided for general information and educational purposes based upon publicly available information from sources believed to be reliable. The information presented may change at any time and without notice. The information and comparisons that may be presented on this site and any printable forms are not securities-related and the topics presented do not participate in the stock market nor are they stock market investments. Any guarantees are backed by the claims-paying ability of the insurance company and are subject to change. The real life cases presented are for informational purposes and illustrative purposes only. They should not be deemed a representation of past or guarantee future results. The cases do not represent any specific product, nor do they reflect sales charges or other expenses that may be required for some policies. No representation is made as to the accuracy of the analysis. All investments involve varying levels and types of risks. These risks can be associated with the specific investment, or with the marketplace as a whole. Please speak with a qualified advisor about the risks and your personal situation.

© Diamond Life Planning