Maximizing Your Dependable, Spendable Income in Retirement

Income annuities

Do you have enough income to retire?

February 28, 2018 By Jerry Golden in Income Allocation 2 Comments Tags: Income allocation, Income annuities, Income power, retirement income

Part II: Income planning starts with income allocation

As a famous TV sports reporter would say, “Let’s go to the videotape!” When the talking is done, it’s always good to look again at the results to find out who won the race and why they won.

Unfortunately, most “experts” often view the wrong race. In the case of your retirement, many advisors will tell you that in this race against time you win when you hit a magic savings number. When we go to the videotape (or in our case an Excel spreadsheet), we realize that isn’t the correct focus. Instead, we should be asking, “Do I have enough income to retire?”

How to put income into retirement INCOME planning

December 12, 2017 By Jerry Golden in Income Power Tags: Guaranteed Income, Income annuities, Income power, retirement income

I’ve been preaching about the importance of securing true income in retirement for a long time. And for just as long, I have seen that financial firms and advisors tend to view retirement planning as simply the accumulation of savings before retirement and the drawing down of savings (often described as “deaccumulation”) after retirement.

Of course, saving is important. But creating a plan to turn that savings into reliable income after you stop working full-time is the real answer to enjoying a satisfying retirement.

When I wrote about the 40th anniversary of the 401(k), I argued that for all its value in helping people to save, it does not replace the traditional pension, which offers guaranteed income for life.

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