It’s one thing to know what the risks of retirement are as far as your income planning goes, but knowing what to do about those risks and how to handle them is what counts. That’s where retirement income strategies come in. In this episode, I will be sharing several types of retirement income strategies so you can find the best option that will suit you and your needs.
Listen in as we discuss the most common way planners put together retirement plans for their clients and how to follow the “4% rule.” You will learn how to start conservative and safe in your retirement income strategy, what a dynamic spending strategy is, and how to guarantee a legacy for your children.
What You’ll Learn In Today’s Episode:
- The three types of retirement strategies to be aware of.
- What a safe withdrawal rate is.
- What the 4% rule is.
- How to implement a variable spending strategy.
- What the go-go years are and how to plan for that time.
- How to ensure you have enough money for your later years in retirement.
- How to guarantee a legacy for your kids.
Ideas Worth Sharing:
“The dynamic spending strategy is really in place to allow you to spend more money in retirement, but know when to dial it back.” – Joe Curry
“Spending doesn’t usually keep up with inflation.” – Joe Curry
“When clients can separate their spending into different buckets, it makes it much easier to stick to a plan.” – Joe Curry
Resources In Today’s Episode:
- Joseph Curry: LinkedIn
- The Ratcheting Safe Withdrawal Rate – A More Dominant Version Of The 4% Rule?
- #FASuccess Ep 198: How The Creator Of The 4 Percent Rule Applied It For His Clients And His Own Retirement, With Bill Bengen
- Decision Rules and Maximum Initial Withdrawal Rates
- Paycheques and Playcheques by Tom Henga
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.