- November 8, 2018
The day that you retire, you cross a very important threshold in your life. You no longer have earned, working income. You transition from a savings and accumulation phase of life into a spending and distribution phase. This creates a unique set of pressures and stresses that can threaten your nest egg.
Retirement income planning is, in our view, the most overlooked area in retirement planning today. While we all understand there are no absolute guarantees in life, planning for income security is at the foundation of a good retirement plan. Retirement income planning includes the following key areas:
- How much income can you draw from your investments today, while minimizing the risk of running out of money tomorrow?
- When should you draw Social Security benefits?
- How can you position your investments to provide for your income need?
- How do you protect your income against inflation?
- How can you create stable, increasing income that can last no matter how long you live?