4 Reasons to Focus on Income Planning in Retirement

(don’t forget to checkout the video of this blog too)

The most important element of retirement planning is ensuring that your money lasts all the way through retirement.

It’s also important to develop a plan that gives you the consistency in the form of retirement income.

We spend our whole life collecting a paycheck and a saving up a large chunk of money…

But then when we retire, we are forced to turn that big pile of money into income again in retirement.

This is actually the biggest concern for retirees each year… will they have enough income⁉️

That’s why you need to focus on income planning in retirement, and specifically creating a comfortable stream of guaranteed income that you can never outlive.

Here are 4 reasons why:

✅ Having enough guaranteed income ensures you will NEVER outlive your money

Income is truly the lifeblood of a successful retirement.

As long as you have a consistent stream of income (or multiple streams) you can rest assured that you will never be left without enough income to cover your expenses (even if you live a very long life).

✅ Having fixed income allows you to invest for more growth

Whether it’s your social security income, an income annuity, or a pension, fixed income allows you to remain invested with your other assets in a more aggressive fashion (which typically translates to higher returns over time).

✅ You can transfer more money to loved ones

Leveraging insurance companies for income allows you to dedicate less resources to funding your own retirement.

This can often put you in a wonderful position to be able to reposition money to create tax-free wealth for your loved ones.

✅ Retirement is much less stressful having a monthly income

When you focus on income planning, and ensuring you have enough fixed income to live comfortably, you’re no longer worried about the market.

You’re also never worried if you have enough money to last…

It’s been shown, that people who leverage an annuity for a portion of their retirement actually live longer.

Maybe it’s a reduction of stress or simply motivation to take just “one more” income payment from an insurance company…

Either way, it’s been shown to translate to a longer retirement, a longer life, and less stress in your golden years of retirement.

Let’s chat 💬😎