Retirement Planning



Retirement planning is more than setting up a 401(k) or IRA or both. If you want to ensure a comfortable lifestyle during retirement, you must think about how your investments will provide for you when you no longer receive a paycheck. While you may receive Social Security benefits, those are usually not enough to cover your living expenses. And how will you receive income once you retire, anyway?

At Bjork Asset Management, we have over 20 years of institutional retirement planning experience. We can help you create a plan that’s based on your financial goals with the greatest likelihood of success. We understand how to avoid outliving your wealth during retirement and how to create a guaranteed retirement income stream for you.


The biggest concern our clients have is how they will receive an income when their paychecks stop coming. The key is to use lifetime income planning to replace your paycheck with regular distributions or payments. Which strategies we use depends on your specific situation, but here are some examples of how we help our clients live a comfortable retirement:

  • Maximize Social Security benefits by timing the start of benefits carefully
  • Use Roth conversions to reduce your tax burden in retirement
  • Utilize income planning to ensure you don’t outlive your retirement savings
  • Set up annuities and permanent life insurance to create a reliable income stream

Distribution planning is incredibly important to provide a steady income in retirement. If you want to maximize your Social Security benefits, you can wait until age 70. In the meantime, you can take distributions from your other retirement accounts, including Roth accounts, IRAs, and 401(k)s to bridge the gap.

Investing involves risk including loss of principal.

Guarantees are based on the claims paying ability of the issuing insurance company.



Legacy planning includes wealth preservation and wealth distribution. Wealth preservation is all about mitigating market risk and choosing the right investments for you. With wealth distribution, we can help you pass along your assets and investments to your heirs and plan your charitable giving. With a wealth distribution plan, we can also reduce the tax burden for your beneficiaries.


How Will I Pay the Bills When I Stop Receiving Paychecks from My Employer?
We can help you plan your retirement income distributions to ensure you receive a steady income even after the paychecks stop coming. For example, we can use annuities to provide you with a fixed income, and we can also help you maximize your Social Security benefits.

What Percentage of My Final Working Earnings Will I Need in Retirement Income?
While some sources say you need 80% of your earnings during retirement, your needs may be higher or significantly lower. It depends on your living expenses and your pre-retirement income. Once we know more about your financial situation, we can help you arrive at a number that makes sense to you.

What Will Taxes Look Like in Retirement?
You probably still have to pay income taxes in retirement unless you only have Roth retirement accounts. But even a portion of your Social Security benefits may be taxable, depending on your gross income during retirement. You’ll definitely want to work with our financial experts to minimize your tax burden in retirement. 

What Are My Options for the Money in My 401(k) or Other Pension Plan?
You can rollover your retirement accounts into an IRA or even a Roth IRA. A rollover to a Roth IRA will require you to pay income taxes on that full amount right away, but you won’t have to pay taxes on distributions later. You can also set up annuities to provide a fixed income stream while your other investments continue to grow. 

How Can I Avoid Running Out of Money in Retirement?
To ensure your retirement account lasts you through retirement, you need to make a plan with a qualified retirement planner. Don’t withdraw cash from your retirement accounts whenever you need money. Instead, use a fixed distribution plan or set up an annuity to preserve your wealth.


When you work with us, you can optimize your retirement income distribution strategy and prepare for retirement. If you don’t want to outlive your money in retirement, call Bjork Asset Management today and start planning today.

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