How Long Do You Need Your Money to Last in Retirement?!

(don’t forget to checkout the video too)

This is the age-old question in retirement.

How long does your money need to last⁉️

The obvious answer is as long as you do.

But what is the absolute best way to accomplish this with your own retirement planning️?

If you knew EXACTLY how long you were going to live it would be easy…

You would simply plan on spending your last dollar on your last day.

That would be perfect planning.

The problem is that’s not how it works in reality.

We need to plan for uncertainty and we need to plan on living a long life.

We need to ensure that we have enough income to get us to finish line (whenever that happens to be).

This is why I think designating some of your money as guaranteed income is so important.

If you have enough guaranteed income AND you have some protection against a possible long-term care event, you have essentially eliminated the risk of running out of money in retirement (entirely)!

That’s why these are the 2 most important objectives in retirement planning.

And what’s really important is ensuring that you take care of your own retirement plan first, before you start considering leaving money behind for your loved ones.

Only then does it really start to make sense to start doing the legacy planning that allows you to transfer wealth to your loved ones.

Let’s chat 💬😎