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Living in Retirement

Traditionally, retirees could depend on Social Security and employer-sponsored pension plans as main sources of income. As life expectancies have increased, our ability to rely on those sources has lessened.

The next generation of retirees will live longer, spend more time in retirement and require additional sources of income.


To help secure your future, it’s important to determine the right amount of funds to withdraw. Equally important is the order of withdrawal, as this will have significant tax implications.

As you develop your withdrawal strategy, your priority should be to provide yourself with the income you need to maintain your lifestyle. Minimizing the effects of taxes is vital to this effort, and it’s important to stay abreast of possible tax reform in areas such as:

  • Capital gains
  • Dividends
  • Regular income

Which savings should be used first?


Fine-tune your budget to ensure that your retirement spending—both essential and discretionary—is in line with your retirement income.

You can plan for a comfortable retirement by considering these important strategies for preserving your savings:

  • Medicare supplemental insurance
  • Long-term care insurance
  • Power of attorney, wills and estate planning

How will retirement affect my expenses?


As you approach retirement, you may want to consider adjusting the allocations in your retirement portfolio to favor bonds and cash equivalents over stocks. It’s also important to keep an eye on these allocations during retirement.

Remember to include personal factors, such as the expected length of your retirement, Social Security, pensions, and other sources of income. A BB&T Investment Services, Inc. Investment Counselor can help you reassess your asset allocations to maximize your portfolio’s long-term performance.

Asset Allocation

Social Security

The amount of your Social Security benefit depends on your earnings and the age at which you begin receiving benefits. For the most part, the longer you postpone taking benefits
(up to age 70), the higher your monthly check will be.

Your decision is highly personal and depends on a number of factors, including your current cash needs, health concerns, whether you plan to continue working, additional sources of income, and any anticipated financial obligations.

How much will Social Security provide after retirement?

Plan to Pay Taxes on Social Security

Get the Most from Social Security

Make Your Money Last

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To arrange a meeting, call 800-642-8545.

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