Retirement - The blessing of planning now and paying yourself in the future

Scott Syrja |

Forecast your monthly income in retirement

During your working years, you generally have clarity on your monthly income because it is automated and predictable. The process of planning for retirement income is different because it is not what you are used to. And that can cause feelings of uncertainty. That’s why working with a wealth management professional is a great way to build confidence that your plans for today will help you meet your goals for tomorrow.

Below, you’ll discover the key sources of potential income in retirement and a case study demonstrating how advice helped a couple planning for retirement optimize their future income.

Potential sources of income in retirement

In retirement, you should plan to draw an income from multiple sources. The two most common types of income you can expect come from either ‘guaranteed’ or ‘asset-based’ sources:

[2] IG Wealth Management / January 2020. “Plan Now to Pay Yourself Later.” More - Advice and Stories on the Topics You Care about., 20 Jan. 2020


In order to ensure a comfortable and predictable income in retirement, you will also need to withdraw money from your retirement income sources strategically. Your IG Wealth Management Consultant will work with you to identify which assets to use first in order to minimize taxes and make your money go further.

Here’s an example of how one couple maximized their forecasted income in retirement by working with an IG Consultant to optimize their retirement plan.

[1] IG Wealth Management / January 2020. “Plan Now to Pay Yourself Later.” More - Advice and Stories on the Topics You Care about., 20 Jan. 2020

True financial well-being means living life on your own terms. Getting there requires a financial plan that evolves with your ever-changing needs and goals, which is why we’ve developed the IG Living Plan™. This holistic plan considers your full financial life and looks at whether you’re saving enough, spending wisely, properly protecting yourself from the unexpected, while always considering how to maximize your tax efficiency along the way. When it comes to optimizing your retirement, the IG Living Plan will help you gain greater clarity by forecasting your income for optimal planning, manage the risks, preserve your capital, and create income to help support your future lifestyle and goals.

Published by IG Wealth Management as a general source of information only.  Not intended as a solicitation to buy or sell specific investments, or to provide tax, legal or investment advice. Seek advice on your specific circumstances from an IG Wealth Management Consultant