Today, many Americans feel entirely on their own when it comes to retirement income.
To manage their anxiety, retirees must learn to separate fact from fiction when it comes to generating the income needed for their sunset years. Let’s first get the fallacies out of the way:
- You should rely primarily on safe, income-producing investments to create income in retirement
- There is a one, magic withdrawal rate that will ensure you will never run out of money.
- It's a bad idea to spend capital from the retirement portfolio.
Now for the facts. Here’s what really matters to a retiree drawing out income from his or her retirement savings:
- Taxes matter.
- Timing matters.
- Spending matters more than investments.
Read the entire article at Let's Make a Plan.
Angie Furubotten-LaRosee, CFP® is a financial planner who helps regular people with "big picture" planning, focusing on their money and their lives.
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