Planning for retirement is all about creating a strategy to turn those savings into a reliable income that lasts. At TandemGrowth Financial Advisors, we work closely with our clients to build personalized retirement income plans designed to help meet their goals, support their lifestyle, and make the most of every available resource.
With a record number of Americans approaching retirement age, smart planning has never been more important. In 2024, over four million Baby Boomers turned 65. That’s the biggest number of retirees in U.S. history. In 2025, that number is expected to repeat, with an average of 11,400 Americans reaching age 65 every single day. It’s no surprise this wave is being referred to as Peak 65.
If you’re one of the millions stepping into retirement over the next few years, here are some of the retirement income strategies we use at TandemGrowth to help our clients make the most of what they’ve worked hard to build.
Personalized Retirement Planning for Every Stage
No two retirement paths are the same. That’s why we don’t believe in one-size-fits-all solutions. We start with a full picture of your financial life. We look at your savings, your spending habits, and your goals, and build a plan around what matters to you.
We help clients answer big questions like:
- When should I retire?
- How much income will I need each year?
- What’s the best way to withdraw from my accounts?
- How do I balance spending now with preserving funds for the future?
Personalized retirement planning helps prevent shortfalls and supports long-term financial security. It’s about taking control of your future, not leaving it to chance.
Retirement Income Planning that Matches Your Lifestyle
Once retirement begins, the focus shifts from saving to spending in a smart and structured way. That’s where retirement income planning comes in.
At TandemGrowth, we guide clients in developing a withdrawal strategy that fits their lifestyle. This includes:
- Determining the right mix of income sources, like pensions, Social Security, investment accounts, and part-time income
- Sequencing withdrawals with an eye toward tax efficiency by considering how and when to draw from various accounts to help support your long‑term plan
- Adjusting for inflation and market changes to maintain your plan’s intended buying power over time
We aim to give clients peace of mind by creating an income plan, while also building in flexibility for the unexpected.
Social Security Optimization
Social Security benefits can be a powerful part of your retirement income, but the timing of when you claim them makes a big difference.
We help clients evaluate different claiming strategies to help maximize their benefits. This includes considering factors such as:
- Full retirement age versus early or delayed benefits
- Spousal or survivor benefits
- Longevity expectations
- Other income sources
By looking at Social Security as part of the bigger picture, we help clients avoid common mistakes and make more informed choices that can lead to higher lifetime benefits.
Tax-Efficient Strategies to Keep More of What You’ve Earned
Taxes don’t go away when you retire, but there are ways to manage them wisely. We work with clients to reduce unnecessary tax burdens and keep more income in their pockets.
One approach we often discuss is tax-efficient withdrawals. This means carefully choosing which accounts to draw from and when, in a way that minimizes your yearly tax bill. We also look at:
- Roth conversions
- Gifting strategies
- Capital gains planning
- Required Minimum Distributions (RMDs)
And here’s something many retirees overlook: extra standard deductions. In 2025, the standard deduction increases by an additional $2,000 if you’re 65 or older and filing as single or head of household (up from $1,950 in 2024). For those married and filing jointly or separately, the extra deduction is $1,600 (up from $1,550 in 2024). These amounts can reduce taxable income and stretch your retirement dollars even further.
Preparing for What’s Next
Retirement isn’t a finish line. It’s a new phase of life with its own opportunities and decisions. That’s why retirement income strategies should evolve with your needs.
At TandemGrowth, we don’t just set a plan and walk away. We stay with you, adjusting as markets shift, tax laws change, or your lifestyle evolves. We also help clients think ahead—like how to prepare adult children for inherited wealth, or how to create a legacy through charitable giving or estate planning.
Let’s Build Your Retirement Income Plan
Whether you’re on the edge of retirement or planning several years in advance, now is the time to start thinking about your retirement income.
We invite you to connect with the team at TandemGrowth Financial Advisors. We’ll work with you to build a retirement income plan that reflects your values, supports your lifestyle, and helps you enjoy the years ahead with confidence.
Reach out today and schedule a call to start the conversation, because your retirement deserves a plan as intentional as the life you’ve built.
About the Author: Mona Kuhlman
