Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could put your retirement at risk.
Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could put your retirement at risk.
From overlooking inflation to neglecting to diversify income sources beyond Social Security, Frank and Walter will walk you through the key pitfalls to avoid when planning for retirement. Stay tuned to learn how important it is to craft a financial plan that is designed to last decades, not just years.
Don’t miss our fun getting-to-know-you segment at the end of the episode to learn more about Frank. After that, we’ll tackle a listener question from Randall, who asks whether he should move his retirement savings to cash due to recent market volatility.
Here’s some of what we discuss in this episode:
0:00 – Intro
3:33 – Planning to be retired for years, not decades
5:37 – Starting Social Security too early
7:43 – Assuming bonds will be your main income source
10:15 – Ignoring inflation
12:30 – Forgetting lifetime income streams outside Social Security
17:08 – Getting to know Frank
19:36 – Mailbag question
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Licensed Insurance Professional. Respond and learn how financial products, including life insurance and annuities can be used in various planning strategies for retirement. The information contained herein is based on our understanding of current tax law. The tax and legislative information may be subject to change and different interpretations. We recommend that you seek professional tax advice for applicability to your personal situation.
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