Retirement Income Planning

Retirement isn’t a finish line, it’s a transition that requires careful planning to support the life you want to lead. EP Wealth helps entrepreneurs, executives, and other high-earning professionals assess cash flow needs, analyze withdrawal strategies, and coordinate across taxable and tax-deferred accounts. Our goal is to help you create a sustainable, flexible income plan that accounts for lifestyle, taxes, market changes, and legacy considerations.

Why Retirement Income Planning Can Be Complex

Many professionals spend decades building wealth but find the shift from accumulation to distribution during retirement brings unexpected complexity. Retirement often spans 25 to 30 years or more, making income longevity and tax exposure critical concerns. At EP Wealth, we help clients develop retirement income strategies that reflect spending priorities and evolving goals. For those with significant assets, aligning distributions with tax considerations and legacy plans becomes especially important.

Effective retirement income planning involves more than just determining how much you’ll need. It includes:

Modeling income needs across different phases of retirement
Managing withdrawals from a variety of retirement accounts
Evaluating the tax treatment of each income stream
Planning inflation, healthcare costs, and future financial goals
Planning the most advantageous time to begin Social Security and pensions, if applicable, based on your broader financial picture

What Makes a Retirement Income Strategy Effective

An effective strategy balances predictability with flexibility. At EP Wealth, we focus on three key outcomes:

1. Coverage for Core Expenses

Basic needs—housing, food, healthcare, taxes—are typically covered with more predictable income sources such as pensions, Social Security, annuities, and income from defined contribution plans. We help assess how these sources align with your essential living costs so you can evaluate additional income layers with clarity.

2. Capacity for Growth

Retirement income should be built to evolve. Retirement income strategies should be designed to evolve over time. Our team monitors asset performance and market shifts, making adjustments as needed to support long-term financial stability.

3. Flexibility to Adjust

No one can predict every twist in life or the market. From unexpected health events to new family goals, your needs may shift. That’s why we include discretionary income layers and withdrawal flexibility in planning. Some clients draw from brokerage accounts for travel or gifting, while others reduce withdrawals during market downturns. Diversifying income sources and account types can provide the flexibility needed to adapt to changing circumstances.

EP Wealth’s Approach to Retirement Income Planning

Discovery and Assessment

We begin by evaluating your current assets, projected expenses, and future income sources. Whether it's IRAs, 403(b) plans, equity investments, or business interests, we help clarify how each piece contributes to your overall retirement income strategy. Tools like our checklist for retirement help organize the planning process.

Risk Analysis and Withdrawal Strategy

We review variables like market volatility, inflation, and withdrawal habits that may affect your portfolio over time. Strategic withdrawal planning takes into account the sequence of returns (the impact of market performance timing on your withdrawals), tax brackets, and account types to help support income durability.

Diversification Across Income Sources

We consider your mix of retirement accounts, brokerage holdings, real estate income, and tax-advantaged accounts. This approach can reduce over-reliance on any one income stream and allow for tax-sensitive drawdown strategies across retirement phases.

Tax Planning Integration

We help clients structure retirement income with tax implications in mind, including decisions about when to take RMDs, how to approach Roth conversions, and whether to draw from taxable or tax-deferred accounts in a given year. Planning around future tax brackets can be a critical lever in wealth preservation over time. Additionally, we incorporate tax-efficient charitable strategies, such as utilizing Qualified Charitable Distributions (QCDs) from your IRAs.

Ongoing Review

Retirement income planning is not a one-time exercise. We revisit your plan regularly to assess evolving market conditions, changing tax laws, spending shifts, and updated goals. This helps keep your income strategy aligned with your broader financial picture as retirement progresses.

How We Coordinate with Your Broader Team

Retirement income planning often intersects with estate strategy, tax planning, and business decisions, especially for clients with complex financial lives. We collaborate with your estate attorney, CPA, and other trusted advisors to align income planning with broader objectives and help maintain consistency across your financial strategy.

This may include:

• Timing and structuring income in coordination with tax filings

• Aligning income needs with charitable giving or philanthropic vehicles

• Integrating business succession planning into long-term retirement goals

• Coordinating distributions with estate planning and generational wealth transfer

Our goal is to help keep all aspects of your financial life connected as circumstances evolve.

Frequently Asked Questions

When should I begin taking required minimum distributions (RMDs)?
RMDs typically begin at age 73 for most retirees. We help you plan withdrawals in advance to avoid unexpected tax liabilities and integrate these distributions with your broader income strategy.

What’s the best age to claim Social Security if I have other income sources?
It depends on your cash flow needs, longevity expectations, and portfolio composition. We run multiple scenarios to evaluate timing in the context of your overall retirement plan.

What tax considerations come with equity compensation in retirement?
Stock options, RSUs, and other deferred comp vehicles may have complex tax consequences. We help plan around vesting schedules, capital gains, and tax-efficient liquidation strategies.

How should I prioritize withdrawals from different accounts in retirement?
The order in which you draw from taxable, tax-deferred, and Roth accounts can significantly impact your long-term tax liability. We help develop a withdrawal strategy designed to balance income needs with tax efficiency over time.

What should I consider when rolling over a 401(k) in retirement?
Rollover decisions can affect everything from your investment options to future withdrawal flexibility and tax exposure. We help evaluate 401(k) strategies in the context of your overall retirement income plan, including whether to consolidate accounts, maintain employer plans, or transition to an IRA.

Can I retire early and still access my retirement accounts?
Yes, but early withdrawals may carry tax penalties. We explore exceptions, bridge strategies, and non-retirement assets to support early retirement goals.

Start Building Your Retirement Income Plan

With experienced advisors across the country, EP Wealth helps clients develop retirement income strategies that align with their investment, tax, and estate planning goals. Meet a financial planner team member to begin the conversation. Learn more about the clients we serve and how we tailor our approach to fit a range of financial situations.

DISCLOSURES

How to save for retirement, the options available, and/or when/how to open a retirement account is unique for each individual. A number of factors have to be considered and for this reason it can be a difficult process to find the options that are most beneficial for you. No guarantee or warrantee is made that any of the information submitted or referenced here will be suitable, profitable, or prove successful. Other retirement saving options exist that may be better suited to your individual needs. Please consult a professional, including, a financial, tax, legal and/or human resources professional before implementing anything referenced herein.
The information presented here is not intended to be regarded as a comprehensive list of retirement plans, considerations, including but not limited to, categories, services, or qualifications that a client or prospective client should consider when assessing or comparing retirement plans or retirement accounts. As the author of this piece, EP Wealth Advisors, LLC (“EPWA”) has tailored the messaging of this article to align with the categories, services, qualifications, capabilities and services that it offers and can service. EPWA makes no representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information presented. EPWA reserves the right to make changes to some or all of the information displayed here without notice.
There is no guarantee that the services detailed herein will be offered to a client, or if offered, that they will be offered in the manner outlined here. The services EPWA offers clients is dependent on the requirements of each client. In many instances, clients or prospective clients may not have a need for all or some of the services detailed.
The need for and type of retirement account that an individual or employer require are specific to the uniqueness of everyone’s circumstances. The referenced material identified herein is limited in nature and angles towards accounts and plans that align with the services offered by EPWA. There is no guarantee or warrantee that the services offered by EPWA will satisfy your financial service’s needs. Services offered by other advisors may be more suitable to your specific needs.
The content of this report is believed to be accurate as of the date of publication and cannot and does not accurately forecast future economic, market, or financial conditions; including changes to retirement benefits. For this reason, any subsequent changes, and/or that occur after the publication of this publication may cause the analysis encompassed herein to become inaccurate.
Information presented is general in nature and should not be viewed as a comprehensive analysis of the topics discussed. It is intended to serve as a tool containing general information that should assist you in the development of subsequent discussions with the appropriate professionals. Content does not involve the rendering of personalized investment advice nor is it intended to supplement professional individualized advice. Please consult a professional financial, tax, legal and/or human resources professional before applying any of the approaches or strategies made referenced directly or indirectly here.
Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses.
All investment strategies, including retirement accounts and plans, have the potential for profit or loss. Different types of investments and investment strategies involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client's portfolio. The risk of loss can never be eliminated even if working with a professional.
An estate plan is a helpful tool that can assist individuals in managing and arranging affairs in the event of death or incapacity. However, the scope and extent of the plan varies depending on the unique circumstances and desires of the individual client. It is for this reason, that the analysis encompassed herein is not intended to be comprehensive in nature nor should it be interpreted as legal advice. Please consult a legal professional to determine the extent, scope, and the drafting and creation of the appropriate estate documents. EP Wealth Advisors is not in the business of providing legal advice or preparing legal documents. Our review is limited to and in association with Financial Planning only.
Laws vary by state. The information presented herein is intended to be general in nature and may not apply to your state of domicile. Please consult local legal counsel to determine the best practices for your state.
Please consult with a CPA, tax professional, and/or attorney regarding your specific situation before implementing any of the strategies referenced directly or indirectly herein.

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