Once you stop working in retirement, you are confronted with a big dilemma: how to make your money last. But don't worry, new technologies help you identify which accounts to pull your money from and when are coming, we will introduce two personalized tools that aim to help create the best-case situation: regular income you can count on.
IncomeStrategy.com
It aims to help individuals decide which accounts they should take money from, and when.
It might sound like a simple dilemma, yet just one wrong decision can have catastrophic consequences. For example, one withdrawal from your Individual Retirement Account could impact both your Social Security taxes and what you pay for Medicare. Just varying which account you draw down from can find tens of thousands of dollars more for someone.
Income Strategy also aims to set its product apart from competitors developing similar platforms through the level of detail it considers.
Once a user has inputted all of their accounts, the site aims to make the process of withdrawals easy. A “Get Cash” button on the site allows you to input the amount you want to take out — say, $40,000 for the next three months — and you will be presented with a list of what you should sell.
IncomeStrategy.com, which officially began in January 2019, is aimed specifically at consumers who may be reluctant to pay a professional advisor a 1% fee.
In next blogpost, we will introduce another new site - Kindur.
IncomeStrategy.com
It aims to help individuals decide which accounts they should take money from, and when.
It might sound like a simple dilemma, yet just one wrong decision can have catastrophic consequences. For example, one withdrawal from your Individual Retirement Account could impact both your Social Security taxes and what you pay for Medicare. Just varying which account you draw down from can find tens of thousands of dollars more for someone.
Income Strategy also aims to set its product apart from competitors developing similar platforms through the level of detail it considers.
Once a user has inputted all of their accounts, the site aims to make the process of withdrawals easy. A “Get Cash” button on the site allows you to input the amount you want to take out — say, $40,000 for the next three months — and you will be presented with a list of what you should sell.
- For a subscription fee of $20 per month, you execute those transactions yourself.
- For $50 per month, you get access to a higher level of service, where those transactions are done for you. There are also other perks, such as a mini call center with certified financial professionals available for advice or access to low-cost exchange-traded fund models.
- For $125, individuals can get a one-time advice session, which can be a general overview or just on Social Security claiming.
IncomeStrategy.com, which officially began in January 2019, is aimed specifically at consumers who may be reluctant to pay a professional advisor a 1% fee.
In next blogpost, we will introduce another new site - Kindur.
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