On this episode:
The challenge in building an effective retirement income plan is to use available income tools and tactics in a strategic manner to meet the financial goals of retirement while also managing the risks confronting those goals.
The primary financial goal for most retirees relates to spending: maximize spending power in such a way that spending can remain consistent and sustainable without any drastic reductions, no matter how long the retirement lasts. Other important goals may include leaving assets for subsequent generations and maintaining sufficient reserves for unexpected expenses and contingencies in retirement. In today’s world, it’s critical that you have a volatility buffer built into your retirement plan. We're going to talk all about the major categories of risk in a retirement plan, why you need to especially understand "sequence of returns", and give you plenty of examples of effective volatility buffers and why you need to consider this as part of your planning process.
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