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Retirement Income Planning

You saved throughout your life, “squirreling” money away so you can finally retire with the lifestyle you want. Now it is time to live off the money you have “squirreled” away.

A carefully constructed retirement income plan is paramount if you are going to make your retirement savings last a lifetime.  Retirement income planning is a delicate balance between capital preservation and capital appreciation.  A carefully constructed withdrawal plan takes both into account, providing for today’s income needs while ensuring your portfolio continues to grow to account for future expenses. 

At NovaDius, we construct an income plan that protects and grows your money in an effort to maintain a steady stream of income over your retired life.  Our four-step retirement income planning process:

We begin your retirement income plan by understanding your retirement dreams, priorities, and goals.  We want to learn about the key risks and concerns you have about retirement and then construct a plan that alleviates those risks and concerns.

Once we have a better understanding of how you want to live in retirement, we will work through a retirement budget and map out your various source of income.  From there, we will create an income stream plan that can be tailored for monthly, quarterly, and yearly withdrawals. 

In order to help ensure your savings last throughout your lifetime, it’s important to understand the various withdrawal strategies and how to manage savings in retirement.  We typically employ a “bucket strategy” for your retirement income portfolio that balances both safety and growth needs.  However, your portfolio is customized to your specific income and withdrawal needs.

After putting your retirement income plan into action, we constantly review the key elements of your plan that should be addressed.  If changes must be made, we educate you on the available options to maintain your income stream moving forward.

Retirement Income 500

Elliott Homan

Vice President of Operations and Advisory Services

My Story:

Like many in our field, I was initially drawn to financial planning by the numbers. But what’s kept me here is the people. Over the years, I’ve seen how easily financial guidance can become disconnected from the lives it’s meant to serve. I wanted to be part of a firm where relationships come first—where we know our clients well enough to anticipate their needs, not just react to them. Novadius is that firm.

Why Novadius:

I joined Novadius to be part of something different. We started this firm to challenge the status quo of an industry where promises often go unfulfilled—firms claiming to offer “customized plans” and “deep client relationships” while managing hundreds or even thousands of accounts. That’s not us. At Novadius, we limit the number of clients we work with so we can deliver on what we promise. Every plan is tailored, every strategy is intentional, and every relationship matters. We treat our clients the way we treat our families—because that’s how it should be.

Family:

I live in Fairway, Kansas with my wife Michelle, our son Henry, our daughter Elizabeth, and our dog Rush.

Hobbies:

Outside of work, I enjoy spending time with family and friends. I’m also proud to serve on the Finance Committee at our church.

Education & Certifications:

  • B.S. in Accounting and Business Administration with a minor in Communication Studies, The University of Kansas
  • CERTIFIED FINANCIAL PLANNER™ (CFP®)
  • Series 65 License
  • Life & Health Insurance License
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