A Confident Retirement Starts With These Four Strategies
Work your way around income gaps, tax gaffes and Social Security insecurity with some thoughtful planning and analysis.


Retirement brings exciting possibilities, but ensuring your wealth lasts requires thoughtful planning. For high-net-worth individuals, managing retirement income isn’t just about covering day-to-day expenses — it’s about preserving wealth, optimizing taxes and securing a legacy.
With the right strategy, you can close income gaps while maintaining financial confidence for decades to come.
Here are four key strategies to help you achieve a secure and fulfilling retirement.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
1. Optimize your withdrawal strategy in light of tax changes
With tax laws set to shift in 2026 as provisions from the 2017 Tax Cuts and Jobs Act expire, now is the time to rethink how you withdraw funds from your retirement accounts.
Key considerations:
- Roth conversions. Converting traditional IRAs to Roth IRAs in 2025 may reduce your future tax burdens, especially if you expect to be in a higher tax bracket later in retirement. With a Roth conversion, you do have to pay taxes on the amount you convert, but going forward, qualified withdrawals will be tax-free.
- Tax-loss harvesting. Recognizing investment losses offers a silver lining that can help offset taxable gains, improving overall tax efficiency.
- Qualified charitable distributions (QCDs). If charitable giving is part of your financial plan, QCDs allow you to satisfy required minimum distributions (RMDs) while reducing taxable income.
Action step: Work with your adviser to model different withdrawal strategies based on potential tax scenarios for 2026 and beyond.
2. Strengthen your retirement income with resilient investment strategies
Economic shifts and market volatility make it essential to create stable income streams that can withstand uncertainty.
Key considerations:
- Asset allocation. Often viewed as the most important decision for long-run investors, asset allocation helps set portfolio risk parameters. A desire or need for capital preservation generally relies more on stable, income-oriented strategies, though some level of growth/risk remains essential for keeping pace with inflation.
- High-quality bonds. Highly rated fixed income securities, such as U.S. Treasury or high-grade municipal bonds, can help diversify portfolios and reduce risk, all while generating consistent and predictable income streams for investors.
- Dividend-growth stocks. Prioritizing financially strong companies with sustainable, growing dividends may provide more stability than high-yield or growth-oriented stocks during economic downturns.
Action step: Review your portfolio’s income sources to ensure a balance between fixed, market-driven and inflation-protected income.
3. Maximize Social Security and pension benefits
With longer life expectancies, the timing of Social Security and pension benefits plays a crucial role in securing lifetime income.
Key considerations:
- Delayed Social Security benefits. Waiting until age 70 can increase your monthly benefit by 8% per year after your full retirement age.
- Pension payout strategies. Some pension plans offer hybrid options that combine lump sum payments with ongoing income, providing flexibility.
- Longevity planning. Couples may need to plan for at least one spouse living into their 90s, requiring a sustainable withdrawal approach.
Action step: Assess your longevity outlook and income needs to determine the best timing for Social Security and pension distributions.
4. Align wealth transfer and philanthropy with your legacy goals
Many retirees are as concerned with wealth transfer as they are with income generation. Proactive estate and philanthropic planning ensure your wealth serves both your family and the causes you care about.
Key considerations:
- Family governance planning. Structuring conversations around wealth management can help prepare heirs for financial responsibility.
- Donor-advised funds (DAFs). A flexible way to manage charitable giving while benefiting from tax advantages.
- Advanced strategies. Sophisticated gift and estate planning strategies can help reduce potential transfer tax liabilities, while also supporting other goals, such as philanthropic endeavors, current cash flow streams and income tax savings.
Action step: Consider hosting a family discussion to align financial values and legacy goals across generations.
A confident retirement starts with a solid plan
Retirement income planning isn’t just about filling gaps — it’s about creating a strategy that aligns with your goals, protects your wealth and ensures financial security for the future.
With tax laws changing, markets shifting and life expectancy increasing, having a proactive plan in place is more important than ever.
This article reflects financial insights as of February 2025. Given the rapidly evolving nature of tax policy and market conditions, we recommend regular consultation with your wealth adviser to ensure your strategy remains optimally aligned with current conditions.
Related Content
- Roth Conversion in a Down Market: Is it Right For You?
- Eight Strategies for Deciding When to File For Social Security
- Living Beyond Age 100: A Possibility With Financial Impact
- Transfer Amid Tax Uncertainty
- Six Steps to Plan Your Charitable Giving
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Nick Bare is an Atlanta-based Wealth Adviser and a voting member of Linscomb Wealth’s Wealth Systems & Services Committee. He is actively involved in several working groups focused on improving the client experience. A member of the Atlanta Financial Planning Association, Nick holds a B.S. in Industrial Engineering Technology with a concentration in Quality Principles and a minor in Business Administration from Kennesaw State University. He is also a Certified Lean Six Sigma Green Belt.
-
Thinking of a New Car in Retirement? Why GM's Latest News Matters
The retirement car conundrum: buy outright or finance your next ride?
-
How the New $250 Visa Integrity Fee Could Impact US Travelers
A new $250 visa integrity fee will soon be levied on some visitors to the US. The ripple effect could impact Americans, too.
-
Thinking of Getting a New Car in Retirement? Why GM's Latest News Matters
The retirement car conundrum: buy outright or finance your next ride?
-
Dow Leads as Merck, Amgen Gain: Stock Market Today
Second-quarter earnings season remained top of mind Tuesday, with Coca-Cola and GM among those reporting.
-
GM Not Planning to Raise Car Prices Despite Tariff Hit, CFO Says
Car Prices GM stock's second-quarter earnings said the company took a $1 billion hit from tariffs, but the CFO said they won't raise prices on cars.
-
Denmark Raised the Social Security Age to 70. Should the US Do the Same?
Social Security is facing a shortfall. One idea is to raise the retirement age, as Denmark did recently, but would it work in America?
-
Why Splurging in Retirement is Totally Worth It
Splurging on yourself is okay when it fits your budget, as it can enhance your happiness and reward your hard work without compromising financial security.
-
5 Ways Portfolios Have Been Impacted In Trump's First Six Months in Office
President Trump's first six months in office have kept investors on their toes thanks to whipsaw tariff policies and a massive tax cut and spending bill.
-
We Check on Our Favorite Bond Funds Amid Tariff Volatility
Bond volatility has ramped up amid debt and inflation worries. Most of our top bond ETFs are outperforming, while one laggard presents a unique opportunity.
-
Are You a Doormat at Work? The Hidden Cost of Excessive People-Pleasing
I talked to the author of the upcoming book 'Fawning,' and she explains how the 'fawn' response can lead to blurred boundaries, difficulty asserting needs and a loss of self, with serious emotional consequences like anxiety and PTSD.