Method for maximizing retirement income using financial bridge products and deferred social security income

A financial planning system for maximizing retirement income for an individual with a pension plan who takes phased retirement, comprising:

• one or more computer systems;
• and
• a financial planning application embodied on a computer readable medium and operable, when executed by the one or more computer systems, to:
• receive a target income for a retirement period, the retirement period comprising a first phase having a first start date and a second phase having a second start date after the first start date;
• receive a partial retirement age associated with the first phase start date and a deferred social security age associated with the second phase start date;
• receive an expected part-time income for the first phase;
• determine a deferred social security income for the second phase, based on the deferred social security age;
• and
• based on the expected part-time income, the deferred social security income, and the pension plan, generate an amended pension plan comprising early pension payments combinable with the expected part-time income sufficient to meet the target income for the first phase and later pension payments combinable with the deferred social security income sufficient to meet the target income for the second phase.