Jumbo Home Loans

Our Jumbo Loan rates have never been lower!* Learn more

Dream Home - Bay Fed Jumbo Loans

Income Strategies & Retirement Milestones

BrokerCheck logoInvestment Services LPL DBA Logo

FutureIncome Strategies: 6 Steps to Planning Your Retirement

For many retired Americans, finding assets to cover everyday expenses can be a challenging endeavor. Making sure you have a defined strategy ahead of time can assist in making your transition to retirement go smoothly and help you better enjoy your newfound leisure time.

Understanding your lifestyle plans, identifying your income streams, and documenting your spending needs are all a part of proper retirement planning. Consider these six steps in preparing for your own retirement:

  1. Design a personal retirement plan.
  2. Review your essential and discretionary expenses.
  3. Evaluate your sources of retirement income.
  4. Identify and examine any potential disparities between planned income and expenses in retirement.
  5. Position your assets to help generate income and identify other potential income sources.
  6. Complete a Personal Assessment to help organize your finances and prioritize your needs. Bring this completed worksheet with you to a complimentary appointment with one our LPL Financial Advisors to help you strategize your retirement!

Retirement Planning Milestones

  • 50 or Over — Catch-Up Contributions to IRAs and 401(k) Plans

  • 55 — Early Retirement

  • 59 1/2 — Avoid Early Withdrawal Penalty

  • 62 — Early Eligibility for Social Security Benefits

  • 67 — Eligible for Full Social Security Benefits

  • 72 — Required Minimum Distributions


Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Bay Federal Credit Union and Investment Services at Bay Federal Credit Union are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Investment Services at Bay Federal Credit Union, and may also be employees of Bay Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Bay Federal Credit Union or Investment Services at Bay Federal Credit Union. Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency  Not Credit Union Guaranteed  Not Credit Union Deposits or Obligations  May Lose Value 

Your Credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services.

Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.

†This information is not intended to be a substitute for individualized tax advice. We suggest that you discuss your specific tax situation with a qualified tax advisor.
mobile apps