Broker Check

Retirement Income Planning

STEW Process:  
Smart Tax Efficient Withdrawal Process
(For Near Retirees and Retirees)


  • Retirement Budget and Cash flow
    • Create a budget
    • Identify payment plan for remaining debt
    • Set aside 1-2 years of expenses in cash (saving/checking, CDs and money market)
      • To cover large unexpected expenses
      • To bridge a market correction or a prolonged period of market volatility 
  • Maximizing Income - Is there enough income from Pension, Social Security and Annuities, to cover the fixed costs identified in the budget?
  • For Remaining Fixed Costs and Discretionary Expenses
    • Develop tax sensitive spend down plan for accounts
      • Employer plan(s)
      • IRAs
      • Roth IRAs
      • Taxable Brokerage Accounts
      • Insurance - Cash Value Policy
  • Tax Bracket – create enough income to meet the budget but not exceed the maximum sustainable withdrawal rate.  Also, the goal is to avoid or minimize adding income that will taxed at the next higher bracket

  • Additional Income
    • Home Equity – is a sale, downsize and/or refinance part of the plan?
    • Rental Income – how much can be attributable to retirement income?
    • Business Sale – how are proceeds being paid?
    • Part Time Employment

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