Our Special Focus: Retirement Income Planning

At Moran, Heising & McElravey, LLC, we assist our clients with customized retirement income planning. We distinguish between the accumulation phase, which requires specific detailed planning and execution, and the distribution phase, which often requires different strategies for planning and execution.
We assist our clients with:
  • Determining appropriate withdrawal rates to maintain their desired standard of living while minimizing withdrawal of principal, if possible.
  • Adjusting withdrawal rates when necessary.
  • Allocating retirement assets to provide a targeted rate of return.
  • Adjusting for market fluctuations.
  • Managing the unique financial concerns of the nearly- or newly-retired.

We use a process with our clients similar to what large pension plans use in managing their portfolios. Using this process, future cash needs are linked to the targeted returns of the portfolio.

Our process includes developing a plan based on four key questions (in order of priority):

First: Do I have enough money to potentially achieve my goals?

Action: We develop a cash flow analysis that incorporates all the client's goals and objectives.

Second: What is the least risk I need to take to potentially achieve these goals?

Action: Identify the minimal return needed to reach the client's goals. If the client is uncomfortable with the risk needed to pursue all the goals, the future cash needs will be adjusted so a lower-risk portfolio will be sufficient.

Third: What investment strategy will enable me to potentially reach my return objective?

Action: Create an Investment Policy Statement that targets the needed return.

Fourth: What are the specific investments that may help me pursue my goal?

Action: Identify selection and monitoring criteria to select investments for each asset category in the Investment Policy Statement.