The retirement income “buckets” approach generally involves dividing your short-term cash and long-term investments into different buckets. This way, regardless of the short-term performance of your investment portfolio, you can make planned withdrawals and regular payments from the buckets without feeling uncertain about the state of your portfolio. There are many versions of the buckets approach, and in this episode, I am going to be sharing a few options for you to consider as you plan for your retirement.
Listen in as I explain what annuity is and the advantages that come along with that, as well as the benefit of purchasing life insurance. You will learn the importance of planning for long-term care and how to ensure you have plenty of time for market recovery. Remember: there are several ways to go about the buckets approach, so do some research and contact your financial advisor to adopt a plan that works for your circumstances.
What You’ll Learn In Today’s Episode:
- Different bucket strategies in retirement.
- What annuity is and how it is used for retirement savings.
- The importance of discussing the buckets approach with your advisor.
- If there is a way to keep up with inflation during your retirement.
- The three different phases of retirement.
- The benefit of getting life insurance.
- How to plan for long-term care in your older age.
- How to ensure you have plenty of time for market recovery if you go through a market downturn.
Ideas Worth Sharing:
“Have a long-term care plan.” – Joe Curry
“There is research that shows it’s actually optimal to slightly increase the amount you have in stocks as you get further into retirement.” – Joe Curry
“It’s important to get clear on your retirement strategy.” – Joe Curry
Resources In Today’s Episode:
- Joseph Curry: LinkedIn
- Managing Sequence Of Return Risk With Bucket Strategies Vs A Total Return Rebalancing Approach
- Most Important Income Solutions in Retirement: Paychecks & Playchecks
If you like Your Retirement Planning Simplified…
Whenever you’re ready… here are 2 ways I can help you with your Retirement Planning:
- Are you ready to retire? Use my FREE Retirement Readiness Calculator to run your numbers to see if you’re truly ready to retire.
- Book your Intro Call with me to see if my expertise matches your situation. If I’m not the right fit for you, I will happily point you in the right direction to get the advice you need.