At Key Financial, comprehensive financial planning doesn’t just determine when you can retire. It focuses on helping you stay retired – no matter what.

Retirement can be an exhilarating time – the promise of freedom from early morning commutes, demanding schedules and tough bosses. It can also be scary when everything you have accumulated now has to be your income for the rest of your life.

Key Financial’s 3 Steps to Retirement Income

Step 1: Determine sources of income. Social Security, pension, deferred compensation plans and stock options.

Step 2: Create income. Your various investment funds are like faucets. A good financial plan is going to tell you which one to turn on and when. We also want to expect the unexpected, so a reserve account for emergencies is also a part of the process.

Step 3: Minimize taxes. Projecting potential income tax scenarios before you retire will have a big impact on what you pay when you are retired. You may find yourself in a lower tax bracket for a limited number of years after you retire, and this a wonderful time for proactive tax planning.

It is essential to have strategies and alternatives that could work in any economic environment, while flexible enough to handle life’s curve balls.