Retirement income planning
Turn your savings into a plan for spending.
Retirement income planning starts with what your life costs after tax, then coordinates regular income and account withdrawals to support it. The plan is reviewed as spending, markets, tax rules, and your life change.
Financial Thinking Partner® Wealth Advisors provides retirement planning and investment management for people within 10 years of making work optional. Doug Aumont, CFP®, is based in Parker, Colorado, in the Denver metro area, and meets with clients virtually in states where the firm and its investment adviser representatives are registered or exempt from registration.
Updated September 29, 2026 · Published by Financial Thinking Partner® Wealth Advisors, led by Doug Aumont, CFP®. About Doug
Spending needs
Monthly bills and larger costs.
Income sources
Social Security, pensions, and other income.
Savings
Review what accounts may need to cover.
Start with real spending
Estimate the life the plan needs to support.
Begin with recurring lifestyle spending after tax, not a generic percentage of pre-retirement income.
Add irregular costs such as travel, home projects, vehicles, gifts, and care. Timing matters because a large expense can change both withdrawals and taxes.
The result is a working spending plan—not a promise. It gives each later decision a practical reference point.
Coordinate the sources
Decide what pays for what, and when.
Social Security, pensions, rental income, annuity payments, and other income can cover part of the plan. Account withdrawals supply what remains.
Choosing which accounts to use can affect taxes, investment risk, required distributions, and what remains for later years.
At your request, we can help set up scheduled withdrawals to your checking account, or you can arrange them yourself through Altruist. Transfers depend on available settled cash and Altruist processing; a date that falls on a weekend or holiday generally processes on the next business day.
Give every dollar a job.
Cash for now. Income to live on. Growth for later in retirement.
Cash
Accessible money for bills and unexpected costs, sized to your situation.
Income
Regular money to live on, coordinated from income sources and portfolio withdrawals.
Growth
Money for later in retirement, invested with attention to downside risk.
A bad market should not decide when you sell. Accessible cash can cover near-term needs, giving long-term investments more time to recover. Investment income varies and losses are possible; this approach does not eliminate market risk, and guardrails can call for a spending adjustment.
Taxes and the amount of risk you can afford to take are considered across all three jobs. No product is required, and investment returns are not guaranteed.
Test the plan
Look beyond one forecast.
We test how the plan responds to a longer life, rising costs, market declines, and changes in spending. The purpose is to identify choices early—not to manufacture certainty.
If conditions change, the response may include adjusting spending, revisiting withdrawals, rebalancing investments, or changing the timing of a goal.
Keep it current
Retirement income planning is ongoing.
Doug oversees allocation, implementation, risk, rebalancing, and routine trades within the strategy you agree on. You share priorities, questions, and life changes; Doug recommends a course and explains the tradeoffs.
The relationship includes spring and fall planning meetings, quarterly check-ins, and updates when a decision in one area affects the others.
Questions the plan should answer
Make the next decision in context.
How much will my lifestyle cost after tax?
Start with the amount you need available to spend after tax each month. Then estimate the additional withdrawals needed to cover taxes on the income and distributions funding that spending, counting other income on the same after-tax basis so taxes are not counted twice. Irregular costs such as travel, vehicles, home projects, and gifts belong in the estimate too. The goal is a realistic working number you can revisit, not a rule of thumb based on pre-retirement income.
Which income sources should begin first?
It depends on your household. Social Security, pensions, annuity payments, rental income, and account withdrawals each have different timing choices, tax effects, and flexibility. Comparing a few realistic sequences side by side shows how each affects taxes, investment risk, and what remains for later years.
Which account should fund a large expense?
Look at the expense in context before choosing. Cash set aside for known costs, taxable accounts, and tax-deferred or Roth accounts can each be used, and the choice can change this year's taxes and the balance left for later. Spreading a cost across more than one account or tax year is sometimes worth considering.
What may need to change after a difficult market?
Not always much. Cash and income set aside for near-term spending give you time before selling long-term investments. After a decline, the plan is reviewed: rebalancing, adjusting which accounts fund withdrawals, or trimming discretionary spending for a period are common options to weigh.
For current federal retirement rules, see the official resources from the IRS and Social Security Administration. Doug organizes tax information, models financial alternatives, and prepares questions for your independent tax professional. He does not give tax advice, prepare tax returns, or determine how any transaction will be taxed. Doug also does not give legal advice.
For educational and informational purposes only; not investment, legal, or tax advice. All investing involves risk, including loss of principal. Advisory services provided by Financial Thinking Partner® Wealth Advisors, a Colorado-registered investment adviser.
Bring the retirement income question on your mind.
Start with a complimentary 30-minute introductory call with Doug. No preparation needed.
Or reach out to Doug directly by sending him an email at doug@financialthinkingpartner.com.