# Retirement Income Planning | Lighthouse Legacy Strategies > Retirement income planning with Sharon Donovan, independent agent in Arkansas, Missouri and Texas. Guaranteed income, rollovers, a plan you understand. Canonical page: https://lighthouselegacystrategies.com/retirement # Turn what you saved into income you can count on Retirement income planning is about turning what you have saved into money you can actually live on. It looks at your savings, your Social Security, your pension if you have one, and the gap that is left over each month. ## The first question is what the money is for I start with what you already have: a pension estimate, a TSP or 403(b) balance, an old 401(k) from a job you left, an annuity somebody sold you. Then we look at what each dollar is being asked to do, and for how long. ### The income gap Add up what your life actually costs each month. Subtract the income you already expect from Social Security or a pension. What is left is the number your savings has to cover, and it is the only number that matters. ### Guaranteed income you cannot outlive A fixed or fixed indexed annuity can create a monthly check that keeps arriving no matter how long you live. It takes pressure off the rest of your savings and it solves the one risk you cannot diversify away. ### Pension and survivor elections Lump sum or monthly. Full survivor benefit, partial, or none. These are one-time decisions with a deadline, and I walk through the packet with you before you sign. ### Rollovers, done cleanly An old employer plan, a TSP account or an IRA can move into an annuity without a taxable event when it is done correctly. I explain the direct route and keep the paperwork clean. Your tax professional confirms the tax side. ### Sequence of returns risk A bad market in the first few years of retirement, while you are also withdrawing, does more damage than the same market ten years in. Principal protection exists partly to solve this, and I show you where it fits. ### Protection underneath the plan Living benefits, final expense and a policy that keeps a spouse from selling the house. The protection layer is what keeps the income plan from being undone by one bad year of health. ### Book a consultation Twenty to thirty minutes on your goals, your obligations and what you already own. I will answer your questions and outline clear next steps based on what matters most to you. ### Not ready to talk? Run the free calculators first. Nothing is stored and no contact details are required to see a result. ## The same five steps, every time ### A short conversation Income, obligations, timeline and what you are actually worried about. No product is mentioned and nothing is sold. Usually 20 to 30 minutes by phone or video. ### A look at what you own Group coverage, old policies, pension paperwork, retirement accounts. I map what each piece is doing today and where the gaps are, and you get that in writing. ### Options, side by side Two or three routes with the trade-offs written down: guarantees, access to the money, cost, and the scenario where each one underperforms. ### Application and underwriting I handle the application, the carrier questions and the beneficiary designations end to end, and you have my direct number the whole way through. ### Annual review Jobs change, families change, rules change. I review every policy I place each year so it keeps doing the job you bought it for. ## About retirement specifically ### What is retirement income planning? Retirement income planning is about turning what you have saved into money you can actually live on. It looks at your savings, Social Security, and any guaranteed income sources such as a pension, then builds a plan for how much comes in each month and how long it lasts. Lighthouse Legacy Strategies is an independent insurance practice, so my part of that picture is the insurance and annuity side. Call (501) 516-9456 to walk through yours. ### When should I start planning my retirement income? The earlier the better, but there is no wrong time to start. If you are within 10 to 15 years of retiring, this is exactly the right time to build a real plan instead of hoping your savings stretch far enough. If you are already retired and worried about a market drop, the conversation is just as useful. ### How much retirement income will I need? It depends on your expenses, your health, and how long you expect retirement to last. A common starting point is replacing 70 to 80 percent of your working income, but the right number comes from your actual budget, not a rule of thumb. I do that math with you in plain language before any product is discussed. ### Can annuities be part of my retirement income plan? Yes. A fixed annuity or fixed indexed annuity can provide guaranteed income you cannot outlive, which takes pressure off your other savings. I show you where that fits alongside Social Security, a pension, and any other income you have. Guarantees are backed by the claims-paying ability of the issuing insurance company. ### Can I roll my 401(k), TSP or IRA into an annuity? Retirement money can be moved into an annuity contract held inside an IRA, and it happens every day. The account stays a retirement account, so the existing tax treatment carries over. What changes is where the money sits and what the contract offers, such as principal protection or lifetime income. Whether that fits depends on your timeline, your other income and how much liquidity you want to keep. ### Should I take my pension as a lump sum or as monthly payments? There is no single right answer, and anyone who gives you one without seeing your situation is guessing. A lump sum gives you control and something to leave behind. Monthly payments give you a check you cannot outlive, though they may end or reduce at death depending on the option you elect. Bring your election packet and we will walk through it together. ### What is sequence of returns risk? Sequence of returns risk is the danger of hitting a bad market in the first few years of retirement while you are also withdrawing money. Two people can average the same return over twenty years and end up in very different places purely because of the order the losses arrived. Products with principal protection exist partly to address this, and I can explain how. ### What does guaranteed lifetime income mean? Guaranteed lifetime income means the insurance company contractually agrees to pay you an income for as long as you live. Those payments are backed by the claims-paying ability of the issuing insurance company, which is why the financial strength of the carrier matters. I go through the actual contract language with you before anything is signed. ### Do I have to move all of my retirement money to work with you? No, and most people do not. Many clients keep the bulk of their savings where it is and use a portion to cover a guaranteed income floor. How much, if any, belongs in an insurance product depends on your income gap, your liquidity needs and your comfort with market risk. If nothing I offer fits, I will tell you that. ### Are you a financial advisor or a registered investment adviser? No. I am a licensed insurance agent, and Lighthouse Legacy Strategies is an independent insurance practice. I am not a registered investment adviser, not a broker dealer, not a law firm and not a tax firm. I do not give investment, legal or tax advice, and I do not sell securities. What I do is explain and place life insurance and annuity contracts. ### What does it cost to talk with you? Nothing. The initial conversation is free and carries no obligation. I am compensated by the insurance company when a policy is placed, not by a fee charged to you. You can ask questions, request an illustration and walk away without owing anything. Ask me directly how I am paid on anything I show you and you will get a plain answer. ### What documents should I bring to a first call? Your most recent statements for any retirement accounts, your Social Security benefit estimate, and any pension election paperwork you have received. If you already own an annuity or a life policy, bring the contract or the latest annual statement. If you cannot find something, call anyway. We can work from what you have. ### Can I work with you if I live outside Arkansas? Yes, if you live in Missouri or Texas. I hold active insurance licenses in Arkansas, Missouri and Texas, and licensing is handled state by state, so confirming your state is the first thing I check. Most consultations happen by phone or video, so where you live inside those three states does not matter. Call (501) 516-9456 and I will confirm yours. ## The other three pillars These are not competing products. They solve different problems, and which ones you need depends entirely on what your money is being asked to do. ### Annuities Fixed and fixed indexed annuities that protect a balance you cannot afford to lose and turn it into income that arrives whether the market cooperates or not. ### Life Insurance and IUL Term, whole life and indexed universal life with living benefits, sized to the job you are hiring the policy to do rather than a rule of thumb. ### Final Expense and Mortgage Protection Smaller policies with simplified approval that keep a funeral or a mortgage from landing on your family in the worst week of their lives. ## Start with a conversation, not a recommendation. Bring what you already own. Statements, policies, benefit summaries. You will leave with a written picture of where you stand whether or not you ever work with me. --- Lighthouse Legacy Strategies, the independent insurance practice of Sharon Donovan, a licensed life insurance and annuity agent in Arkansas, Missouri and Texas, based in Little Rock, Arkansas. Retirement income planning, annuities, life insurance and IUL with living benefits, final expense and mortgage protection. Sharon Donovan (501) 516-9456 (call or text), sharon.donovan@wealthwave.com. By appointment, including evenings. Most consultations happen by phone or video. Important disclosures: Lighthouse Legacy Strategies is an independent insurance practice. Sharon Donovan is a licensed insurance agent (NPN 18170848) in Arkansas, Missouri and Texas. This website is for educational purposes only and is not financial, tax, legal or investment advice. Guarantees are backed by the claims-paying ability of the issuing insurance company. Policy loans and withdrawals reduce cash value and death benefits. Not affiliated with any government agency. Full set: https://lighthouselegacystrategies.com/disclosures Powered by [Launch Automation](https://launchautomation.ai/websites/)