On this episode:
Creating a steady income stream in retirement is a goal everyone has because it allows for a steady and reliable life, but how do you achieve that within your financial plan? In this episode, Victor will explain how we approach income planning in retirement and the challenges facing anyone trying to put predictable streams in place.
Income is one of the four pillars of the Retirease Retirement Plan and a crucial piece of the puzzle. It’s not an easy thing to structure on your own and people often rely on income streams that aren’t as predictable as they believe like stock dividends. That can lead to wild swings within your account, which keeps you from enjoying a great lifestyle in retirement because you end up worrying about what you’ll have each month.
Join us as we dive into this topic today and help you better understand the process for setting up these predictable income streams.
Specific learning points:
- Is there a way to generate predictable income? (1:45)
- Why dividends aren’t as reliable as people often think. (3:33)
- An example of a time someone relied too heavily on the market in retirement with bad results. (7:06)
- How to offset inflation when setting up an income plan. (9:30)
- How the income discussion fits into our initial meetings. (13:23)
Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.