I think of creating retirement income plan in terms of funnels and buckets. The funnel is the decision-making process. The buckets are where your various accounts are placed and invested for income. First, the funnel. Start wide at the…
Welcome back. For those of you who have stuck with this series, you are rounding 3rd base! Almost through the quick tutorial to help decide what order to tap your savings for retirement. Withdrawal Method #3: Pro Rata. Take withdrawals…
Welcome back to the bite-size tutorial series about retirement withdrawal methods. This week we look at Method #2. Method 2: Tax-Deferred accounts first, Taxable (aka non-retirement accounts) second, Roth last. Pros: Spreads taxes owed on deferred accounts over a longer…
In last week’s blog, I introduced some thoughts and methods of tapping into your savings to create a retirement paycheck. This week, we will look at the Method #1. This is the first method just because it’s kind of the…
Retirement in America is not for wimps. For most people, gone are the days when you hang up your tools one day and then go home to a steady pension for the rest of your life. Nowadays, we must…
This blog is thanks to an alert reader who asked me the question about why all financial planners are not required to be fiduciaries. I’m ALWAYS looking for blog topics, so please e-mail me your questions! First, what is a…
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