On This Episode
What will it take to keep up with your lifestyle and goals in retirement? Income! What are some sources of predictable retirement income and what should you do with it? Let’s explore a topic that everyone feels strongly about.
Once you retire in Arizona, you leave behind a regular paycheck from your job. On today’s episode of the podcast, we talk all about predictable income in retirement. Do you know where your income is coming from? And is it something you can rely on?
What are your sources of retirement income? While you may think that all of your sources of income are predictable, some aren’t as much of a sure thing as you’d think. Are you planning to count on rental property income? Or are you relying on annuities or bonds?
Is income ever really guaranteed? Social Security, pensions, or annuities may all claim to be guaranteed, but are they? How does inflation impact your retirement income?
If you plan to retire soon, it’s important to understand where your income will come from. Meeting with an advisor to review your goals, predictable income, unpredictable income, assets, Social Security and pensions, can help you understand how you’ll be able to maintain your income level and cover expenses. If you’re retiring in your 60s, you need to plan for 30-40 years financially. Is your financial plan set up accordingly?
Where is your retirement income coming from?
We discuss it all on the show.
It’s important that you have money in growth vehicles --whether that be stocks, mutual funds, ETFs, etc.--you need to have a certain amount into things that are going to keep ahead of inflation.
- Mark Silverman, CFP®
Let’s get rolling with the first episode and you can use the timestamps below to skip around to specific topics.
1:12 - What retirement incomes do people assume are predictable?
2:43 - Is there really such a thing as “guaranteed income”?
3:45 - What does it look like when you rely too much on the stock market?
4:39 - What do you do with inflation?
5:39 - How is a reliable income possible to achieve?