#6 – 10 Things You Need To Know To Plan Your Retirement Income
What are the goals for your retirement savings? A vacation? Income? Growth? The goals and purpose for your money need to be established by you and your family, not an adviser or friend. A tool does not dictate the client, the client needs to be in control of the product or tool needed to accomplish their goals.
Planning your retirement income distribution is different than planning the accumulation of your retirement income.
Tools we would use to accumulate and grow your money aren’t necessarily the best tools to use for the distribution of your income. Once a person retires they may no longer have several years for their money to recover if the markets go through a correction. The retiree may need access to that income before the markets recover.
Tune into Bruce’s show on Tuesday for the 7th part of the 10 things you need to know to plan your retirement income series.
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