How to Convert Assets Into Income

This document will help you organize your assets based on the existing tax status. With a well-designed plan, you can minimize the taxes you will owe on Social Security and put the most money directly into your pocket.  Together, we can develop the guaranteed stream of income you need to enjoy the financial freedom that will define your retirement.

Asset Organizer

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Typically, retirement income planning liquidates assets by order of least favorable tax status to best tax treatment. 

  1. Guaranteed lifetime income: Start here and use other assets to fill any unmet income gaps.
    1. Social Security
    2. Pension Payments
    3. Annuity Payments
  2. Taxable brokerage and bank accountsAnnual growth on these accounts is taxed and can decrease the net benefits from Social Security.
    1. Stocks
    2. Mutual Funds
    3. Bonds
    4. Certificate of Deposits
  3. Tax deferredGrowth does not affect Social Security, but income is taxed at ordinary income tax rates.
    1. IRA
    2. 401(k)
    3. Annuity
  4. Tax-free: We can never have too much tax-free income. 
    1. Roth IRAs
    2. Life Insurance

Now that your expenses and assets are organized, what’s the next step?

Call today to schedule a visit to our office and we will:

  1. Assess any unseen risks your assets are subject to.
  2. Covert taxable assets into tax-free income vehicles.
  3. Generate additional guaranteed lifetime income streams.

We are here to help. Request your no-cost, no-obligation consultation today.

View Part 1 “Understanding Expenses” here

...including more tax-free income