Income Planning

Personalized income planning focused on sustainable cash flow, tax considerations, and long-term financial goals.

J. Martin Wealth Management provides income planning services designed to help clients understand, organize, and coordinate sources of income throughout different stages of life. Income planning plays an important role both before and during retirement, helping individuals evaluate how earnings, savings, and investments support ongoing financial needs.

Rather than focusing on a single point in time, income planning considers how cash flow may change as circumstances evolve, including career transitions, retirement, and unexpected life events.

What Income Planning Involves

Income planning focuses on understanding where income comes from, how it is used, and how it may be structured over time. This process often includes evaluating:

  • Current income sources and expenses

  • Future income needs and timing

  • Tax considerations related to income

  • Cash reserves and liquidity needs

Income planning is often coordinated as part of a broader financial planning process, ensuring income decisions align with long-term goals.

Income Planning Before and During Retirement

Income planning is not limited to retirement. Before retirement, it may involve budgeting, savings strategies, and preparing for changes in earnings. During retirement, income planning often shifts toward coordinating withdrawals, income sources, and tax considerations.

For many individuals, income planning is closely connected to retirement planning, particularly as decisions around Social Security, portfolio withdrawals, and required distributions become relevant.

Coordinating Income With Investments

Income planning and investment decisions are closely related. Investment strategies may influence how income is generated and sustained over time, while income needs can affect portfolio structure and risk exposure.

As part of income planning, we help clients evaluate how investment strategies support income objectives, in coordination with investment advice. All strategies involve risk, and income outcomes are not guaranteed.

Managing Uncertainty and Cash Flow Needs

Income planning also considers the possibility of unexpected events, such as changes in employment, healthcare needs, or market conditions. Maintaining appropriate cash reserves and understanding available options may help clients prepare for these uncertainties.

Planning ahead can provide greater clarity around how income and resources may be used in different scenarios.

A Personalized, Planning-Driven Approach

There is no one-size-fits-all income strategy. Income planning is tailored to each client’s financial situation, goals, and risk tolerance. Education is an important part of the process, helping clients understand how income decisions fit into their overall financial picture.

As financial advisors operating with a fiduciary duty, income planning recommendations are made based on individual circumstances and in the client’s best interest.

Why Income Planning Is Important

When it comes to income planning, there are a lot of factors to consider. You need to think about your current financial situation, your long-term goals, and how to best set yourself up for a bright financial future.

It can be overwhelming to try to tackle all of this on your own, which is why working with a financial planner can be so beneficial. A good planner will take the time to get to know you and your unique circumstances. They can then develop a cohesive approach that offers education and empowerment.

Continuing the Conversation

If you would like additional information about our planning process or have questions about how these services may fit into your overall financial picture, we welcome your inquiries. To learn more about our firm’s fiduciary approach and planning philosophy, please visit our About Us page. When appropriate, we are available to discuss how our financial advisory services may support your long-term planning needs.