The Importance of Income Planning in Retirement
The biggest fear for most retirees is running out of money in retirement. No one wants to be forced to work again or have to closely watch every dollar they spend. That’s why income planning is a key component to an overall plan and it’s the topic for today’s show.
Whether you’re working, a pre-retiree, or retiree, this income discussion needs to be a priority so we’ll share some of the reasons why and help you better understand our process at the Transition Advisor Group. We’ll explain how we take your goals, needs, and desires and help construct an income plan that will last through retirement.
Here’s some of what we discuss in this episode:
0:00 – Intro
0:56 – Without an income plan, you don’t have a plan
2:02 – How many people have an income plan?
4:55 – Planning strategies
9:24 – Our process with clients
11:42 – Relationship
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June is back to continue discussing Ed Slott’s latest book, The Retirement Savings Time Bomb Ticks Louder. One of the key topics June discusses is the often-overlooked role of life insurance in retirement planning. She and Marc also talk about the importance of taking proactive steps while you’re in the “retirement sweet spot” (age 59.5 – 73) when it comes to RMDs, IRMAA, and more.
June recently appeared on TV to discuss Ed Slott’s latest book, The Retirement Savings Time Bomb Ticks Louder. Ed is a nationally recognized IRA distribution expert known for his ability to turn complex tax strategies into understandable and actionable advice. As an elite member of his organization, June will share why this book is a must-read for anyone with long-term savings in IRAs or 401(k)s.
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