Retirement basic living expenses icon Support the retirement lifestyle you envision

Retirement income planning is even more pivotal today as American lifespans are longer.

Retirement income planning leverages your wealth to help create predictable income that meets your needs and supports the future you envision.

  • Understand why you are ahead or behind in your plan
  • Employ strategies to adjust your spending and rules to harvest from your portfolio as needed

save money icon How much will you need for retirement?

Everyone will have different retirement financial needs.

That's why we tailor the RBC Wealth Management retirement income illustration model to fit your financial objectives, portfolio size and personal preferences.

Through RBC Wealth Management Online, we provide you with RBC Retirement Paycheck, which makes it easy for you to see a clear, one-year snapshot of your available funding sources to help you achieve your goals in retirement.

Checklist icon Developing a plan that's right for you

We help you to develop a personalized retirement income plan to help you feel more confident and prepared for your financial future. Our planning process is dynamic and includes periodic review of risks, choices and sustainability. Together, we take the following steps in our approach:

Analyze your retirement needs
  • Determine your retirement goals and identify income sources
  • Assess your income and assets for funding retirement
Build a foundation
  • Determine the gap between your assured income and essential living expenses
  • Design a personal pension for your retirement
Establish a withdrawal strategy
  • Create a retirement income strategy to cover your lifestyle and discretionary expenses
Implement products and solutions
  • Design a portfolio to balance the income needed today and throughout your lifetime with the need to grow and preserve your investments
Review your progress
  • Understand why you are ahead or behind in your plan
  • Employ strategies to adjust your spending and rules to harvest from your portfolio as needed

We're here to help

Generating a predictable income for the rest of your life may seem like a daunting task, but we're here to help you plan and achieve your visions.

Mature woman reviewing documents

Resources

Required minimum distributions

If you invest in traditional IRAs or employer-sponsored retirement savings plans, it's important to know that they are not shielded from taxes indefinitely. When you reach age 73, you much take required minimum distributions to avoid tax penalties.

The regulatory environment continues to change, and it is sometimes difficult to navigate. Contact us today to learn more about your options