The Four Planning Channels

There are four distinct planning channels involved in comprehensive retirement income planning. They are:

  1. The Structural Plan
  2. The Investment Portfolio
  3. Health-Risk Management
  4. Wealth Transfer

These channels work together in the same way as framing, electrical, plumbing and heating do in a home.

Each of these channels is a process unto itself. Because each time a decision is reached and action is taken in one of the planning areas it affects the other three. The true benefits of integrated planning will only be realized when all four work in conjunction. For example, an increase in the amount of income withdrawn (structure) will reduce potential inheritances (wealth transfer), and may affect the ability to fund long-term health-care costs (health-risk management), unless the investments (investment portfolio) are adjusted to attract a potentially higher rate of return.

Because of the integrated nature of the planning channels, they need to be considered in a holistic approach to your personal retirement income blueprint.

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