Skip Navigation: Internet Banking Login

Your browser's version is not compatible. Please upgrade your browser.
Cancel Icon

Retirement Planning

Retirement Planning

We can provide financial planning to help you maintain the lifestyle you desire during retirement through U.S. Bank and U.S. Bancorp Investments.

Help bring clarity and confidence to your retirement planning

We help our clients navigate the complexities of retirement. Our financial professionals will work with you every step of the way to help develop and implement your retirement savings strategy. And once you reach retirement, we can help you understand and plan for your ongoing income needs.

Work with an advisor

If you have more complex financial needs, we offer comprehensive wealth management advice and services. Get personal one-on-one guidance from an advisor. Find an advisor by selecting an option on our Wealth Management page.

Estimate what it may take to save for your retirement with our Retirement Calculator

If you are close to entering retirement or have already started, Retirement Income Planning is important. It is beneficial to have a plan that can help you make the most of your finances during retirement.

Making sure your assets last throughout your retirement may be your most important financial goal. Professional guidance may make a difference and give you peace-of-mind. Our knowledgeable financial professionals at U.S. Bank and
U.S. Bancorp Investments, Inc. can help you develop a retirement income plan that is appropriate for your circumstances.

  • This is one of the most critical questions you face. Your first priority should be to determine a "sustainable" rate of withdrawal from your personal savings. Too many retirees make the mistake of drawing down their savings too quickly in the early years of retirement. That can result in a significant downgrade in living standards later in retirement or, in the worst case, actually running out of money while they are still alive. Keep in mind that given life expectancies for most retirees, you may want to prepare to stretch your savings over two-to-three decades or more.

  • Contributions to employer plans can only occur if you continue to be employed by the organization and qualify to participate in the plan. If you have separated from service with the employer, you can no longer make contributions to the plan.

    IRA contributions are only allowed to the extent that you have earned income. If you are earning wages while you are retired, you will qualify to make contributions to an IRA. If you have no earned income (investment income such as interest and dividends do not count as earned income), you do not qualify to make IRA contributions.

  • This depends on your circumstances. There may be advantages to rolling money from your former employer's plan to your own IRA, but that is not always the case and it's not your only option. Before deciding whether to keep assets in your former employer's plan, take a cash distribution or roll assets into an IRA, be sure to consider potential benefits and limitations of all options. You should consider total fees and expenses, range of investment options available, penalty-free withdrawals, availability of services, protection from creditors, RMD planning and taxation of employer stock. Discuss rollover options with your tax advisor for tax considerations.

  • This is a decision that must be made on an individual basis. Some people seek to retire early and take Social Security as soon as possible. You can first claim retirement benefits at age 62. Some prefer to wait, and take advantage of the fact that the longer they delay first taking Social Security payments, the larger their monthly benefit will be. If you are in good health and anticipate living a long retirement, it may be advantageous to delay Social Security payments as long as possible so you can enjoy larger monthly benefit checks over time. In addition, there are other Social Security strategies that may be advantageous to your unique situation. Your financial professional can help you understand your options.

  • Not necessarily. In fact, people who earned modest incomes throughout their working lives and managed to save and accumulate a significant retirement nest egg may find that their income rises in retirement, pushing them into a higher income tax bracket. Taxes can be one of the most significant expenses you face in retirement. Among the tax concerns you need to be aware of in retirement are:

    • Some portion of your Social Security benefits may be subject to tax.
    • Most or all withdrawals from a workplace retirement plan will be taxed at ordinary income tax rates.
    • Withdrawals from a Traditional IRA that do not represent the portion attributable to your investment may be subject to tax at ordinary income tax rates. The same may be true of annuity payouts.
    • Earnings in taxable accounts will continue to be subject to current taxes.
    • You will not pay FICA (Social Security and Medicare) taxes on any investment income.

    The other concern is that tax laws are subject to change, and you can’t be certain what tax rates will apply in the future. Be sure to consult with your tax advisor for more information.

  • Distributions from workplace plans are required to begin by the year in which you turn age 70-1/2. With IRAs, the rules vary depending on the type of IRA you have. In a traditional IRA (earnings grow tax deferred but are taxed upon withdrawal), distributions are required to begin in the year you reach age 70-1/2, although the first required minimum distribution can be delayed until the April following the year that the person reaches the age of 70-1/2. Minimum distributions are required every year thereafter based on a distribution formula established by the Internal Revenue Service. If you have dollars in a Roth IRA, they can continue to be held indefinitely with no required withdrawals.

  • Every American becomes eligible to participate in the Medicare program on their 65th birthday. Medicare provides a certain degree of protection, but does not cover all medical costs in retirement. Most people purchase some form of Medicare Supplement insurance (or Medigap policies), for an additional premium, to cover other out-of-pocket expenses. Others may have access to a retiree medical plan through their former employer to help cover additional medical expenses.

    One issue to keep in mind is that if you retire prior to age 65, and want health care coverage, you may need to purchase an individual policy if a retiree plan is not available from your employer. Health care coverage may be expensive for older individuals.

Find What's Right For You

IRAs & Retirement


More Investment Products

The right investment tools may play a critical role in working toward your retirement goals. Compare the potential tax advantages of Individual Retirement Accounts.

U.S. Bancorp Investments can help you determine the types of insurance that may be appropriate for you.

We offer investment products and services to help you work toward your goals and simplify your financial life.

Investment products and services are:

Not a DepositNot FDIC InsuredMay Lose ValueNot Bank GuaranteedNot Insured by any Federal Government Agency

This information represents the opinion of U.S. Bank and/or U.S. Bancorp Investments and is not intended to be a forecast of future events or a guarantee of future results. This information is designed to be educational and informative. It is not intended to provide recommendations, to provide specific advice concerning retirement accounts and investment planning, or to meet the needs of any particular investor. Investors should consult with their investment professionals for advice concerning their particular situations.

U.S. Bancorp is the parent company of U.S. Bank and U.S. Bancorp Investments.

U.S. Bank, U.S. Bancorp Investments and their representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation. Non-Qualified withdrawals are subject to all applicable federal and sate income taxes, and may be subject to a 10% federal penalty. Please consult your tax advisor or legal counsel for advice and information concerning your particular situation.

For U.S. Bank:

Equal Housing LenderCredit products are offered by U.S. Bank National Association and subject to normal credit approval. Deposit products are offered by U.S. Bank National Association, Member FDIC.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments.

For U.S. Bancorp Investments, Inc.:

Investment products and services are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank.

Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License # OE24641.

The Financial Industry Regulatory Authority (FINRA) Rule 2267 provides for BrokerCheck to allow investors to learn about the professional background, business practices, and conduct of FINRA member firms or their brokers. To request such information, contact FINRA toll-free at 1.800.289.9999 or via An investor brochure describing BrokerCheck is also available through FINRA.

Get Started

Invest with an Advisor

Work with a dedicated advisor.

Call to Invest

Talk to a Financial Consultant at U.S. Bancorp Investments.

Invest on Your Own

Set up a self-directed online brokerage account or IRA account with
U.S. Bancorp Investments.

Wealth Management

U.S. Bank provides comprehensive wealth management services including financial planning, investment management, trust and fiduciary services and private banking.

U.S. Bancorp Investments offers financial planning, investment and brokerage services.

U.S. Bancorp is the parent company of U.S. Bank and
U.S. Bancorp Investments.

Unsupported Browser

Unsupported Browser

We've detected that you are currently accessing this site using an older version of Internet Explorer. We have not designed this site to support older versions of Internet Explorer. Therefore, you may encounter issues with how the site is displayed and how you can navigate through the site when using this older browser. We highly recommend you upgrade your current browser or download a new version of a different browser.

Upgrade Internet Explorer

Alternatively, you may want to download a new version of a different browser: