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Nicholas Wealth Clients 19

Income Planning

Feel secure about your financial future with strategies designed to provide a steady income throughout retirement.

Tailored Strategies for Sustainable Income

Our approach to income planning is focused on creating a steady, reliable income stream that supports your retirement lifestyle. We consider all sources of income and how they can work together most effectively for you.

Social Security Maximization

Our team works with you to strategically maximize your Social Security benefits to ensure optimal financial support for you and your spouse.

Income & Expense Analysis

We conduct a comprehensive analysis of your income and expenses to support your lifestyle securely throughout retirement.

Inflation Plan

Our financial planners implement a plan to protect against inflation, ensuring your purchasing power remains strong as costs rise.

Spousal Plan

We help develop a coordinated approach to secure your spouse's financial well-being and peace of mind in retirement.

Longevity Protection

We work together with you to create strategies to protect against longevity risk, ensuring your income sustains you for life.

Emergency Fund Strategies

We help you establish a strategic emergency fund to protect your retirement against unexpected expenses, further securing your financial future.

Keys to Income Planning

One of my best financial decisions was becoming a client of Nicholas Wealth Management!
Terry T.
David is so knowledgeable, kind, and honest. I wouldn’t want my money in anyone else’s hands.
Kerri C.
Great knowledge, even greater advice! Nicholas Wealth Management should be on your short list for helping you make the right choices concerning retirement planning etc.
Tim S.
David and his team at Nicholas Wealth Management are awesome... The team at NWM has great integrity and through this comes trust. Thank you guys for being great human beings. This is a rarity in the world that we live in today.
Verona R.
Nicholas Wealth has made investing for our future and our ability to be financially secure during our retirement a reality. They have also shown us that we can travel and have fun during retirement and not just survive it... If you are looking for sound financial advice we highly recommend Nicholas Wealth Management.
Helen E.
My wife and I are extremely happy with Nicholas Wealth. We feel they are really looking out for our best interests in our retirement and financial planning. The staff is top notch, very professional and understanding to our needs and concerns. Happy we went with Nicholas Wealth Management to help us plan our future.
Jeff W.
I had been with another investment advisor for about 16 years but the results were disappointing. Nicholas Wealth brought a breath of fresh air into my retirement strategy and I'm so glad I found them.
Kim M.


It depends. You can defer your payments until age 70 and the longer you defer, the higher your payments will be. But, it could make sense to start your SS payments early depending on your monthly shortfall in retirement.

Up to 85% of your Social Security benefits could be taxable, depending on your income. 

Under $25,000 (single) or $32,000 (joint filing): No tax on your Social Security benefits

Between $25,000 and $34,000 (single) or $32,000 and $44,000 (joint filing): Up to 50% of Social Security benefits can be taxed

Above $34,000 (single) or above $44,000 (joint filing): Up to 85% of benefits can be taxed.

Your monthly shortfall is the difference between the amount of income you have coming in from sources such as Social Security, Pension, or part time wages and the amount of your monthly expenses. For example, if your monthly pension and social security income equals $5,000 and your expenses are $9,000, your shortfall is $4,000 per month. This shortfall amount would need to be covered from investment and retirement accounts.

It is important to take into account the impact of inflation. When building your retirement income plan you should anticipate your expenses increasing each year based on the rate of inflation. Some expenses like healthcare, fuel and food may increase faster than the headline rate of inflation so your Nicholas Wealth financial advisor will work with you to tailor the income plan to reflect your lifestyle.

Equities are a great way to achieve long-term growth and appreciation of your assets. For your income bucket, we recommend owning assets that generate consistent monthly, quarterly or annual dividends and interest during retirement.

Secure Your Financial Future

Our financial advisors help you craft an income strategy that can improve financial stability and help you enjoy what matters most.