Retirement Income
Turning savings into a retirement paycheck
· 6 min read · Cameron Woodbury, Investment Advisor Representative
A portfolio is not an income plan. How we sequence Social Security, pensions, and withdrawals so the money shows up every month.
Most people arrive at retirement with a balance, not a paycheck. The account statement says one number, but the question that keeps people awake is simpler: how much can we spend each month, and where will it come from first?
Answering it well takes sequencing. Which accounts are tapped in which order changes the tax bill, the longevity of the portfolio, and how much of an inheritance survives the transfer.
Start with the guaranteed layer
Social Security, a pension, and any annuitized income form the floor. Mapping the claiming decision first — including spousal and survivor consequences — tells us how much of the monthly need the portfolio actually has to carry.
For public utility workers and long-tenured employees, pension election is often the single largest financial decision of their lives, and it is usually irreversible.
Then design the withdrawal order
Taxable, tax-deferred, and tax-free accounts each behave differently at different income levels. Coordinating them across the year lets us manage brackets, Medicare surcharges, and capital gains rather than react to them in April.
The plan is reviewed annually because tax law, markets, and family circumstances all move.
Coordinate it with the estate
Titling and beneficiary designations quietly override an otherwise well-drafted trust. Because our planning, investment, tax, and estate work happens under one roof, those documents get checked against the income plan instead of living in separate drawers.
This material is for informational purposes only and is not intended as tax, legal, or individualized investment advice. Please consult your own professionals regarding your specific situation.