In previous articles in this series, we have shared the first three steps in creating a written comprehensive retirement income plan. If you haven’t yet read about those steps, we recommend you start here.
In this fourth and final installment, we are sharing the fourth step in this planning process, which is getting your plan details recorded in writing.
In previous articles, we shared everything you need to know about the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. Then, we discussed the second step in your planning, the Income Tax Analysis. If you didn’t get a chance to read those articles yet, you can start here. In this final installment of this series, we give you details about the third step in your comprehensive written retirement income planning: an analysis of assets to beneficiaries.
Having a comprehensive written retirement income plan you can rely on is incredibly important to your financial health in retirement, so let’s dive into this final step.
In three previous articles, we discussed all the details of the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. If you didn’t get a chance to read it yet, you can start here. Now, we move on to the second step in your planning, which is the all-important Income Tax Analysis.
Why are we continuing to discuss this topic? Because having a comprehensive written retirement income plan is just that important!
This article is part three of a three-part series in which we’ll dig deeper into the first aspect of preparing your comprehensive written retirement income plan: the retirement income projection. This series is based on content that originally appeared in our book, Momma’s Secret Recipe for Retirement Success, and you can grab your copy here.
In our last installment, we shared details on the second step in developing your comprehensive written retirement income plan, which is a risk analysis. As a reminder, this series is all about completing the three aspects that make up step one in our four-part process of completing your Retirement Income Projection:
In this article, we’ll walk you through the fee analysis step.
This article is part two of a three-part series in which we’ll dig deeper into the first aspect of preparing your comprehensive written retirement income plan: the retirement income projection. This series is based on content that originally appeared in our book, Momma’s Secret Recipe for Retirement Success, and you can grab your copy here.
In our last installment, we shared details on the very first step in developing your comprehensive written retirement income plan, which is a retirement income analysis. As a reminder, this series is all about completing the three aspects that makeup step one in our four-part process of completing your Retirement Income Projection:
In this article, we’ll walk you through the risk analysis step.
This article is part one of a three-part series in which we’ll dig deeper into the first aspect of preparing your comprehensive written retirement income plan: the retirement income projection. This series is based on content that originally appeared in our book, Momma’s Secret Recipe for Retirement Success, and you can grab your copy here.
We’ve shared before how important it is to have a comprehensive written retirement income plan, and today we’re delving into the details of getting started. Step one in the four-part process is to do a Retirement Income Projection, which consists of three aspects:
In this article, we’ll walk you through the income analysis step.
The following is adapted from our book, Momma’s Secret Recipe for Retirement Success. Get your copy here to read more!
We think 15-years is a long time. If you’re 70, then 15-years could represent your life expectancy. That’s why we did significant research on the S&P 500 Index starting in 1999 and ending in 2013, back when we finished writing the text of one of our books titled Don’t Bet the Farm. Because we work with retirees, we wanted to review what had happened over the previous 15 years in the stock market to prepare for what types of pitfalls may lie ahead in the next 15 years based on normal average life expectancies. There was volatility, and there was growth. But what we ultimately found out was nothing short of astonishing.
The following article features content adapted from the book Momma’s Secret Recipe for Retirement Success by Dan Ahmad, Jim Files, and Jack Canfield. Get your copy here!
At Peak Financial Freedom Group, we encourage you to get serious about your retirement security. We believe strongly in a comprehensive, written retirement income plan to tie everything about your money together, which we recommend doing with what we call the “3 Bucket Safe Money Approach.” If you’ve been reading our blog for a while now, you’ve seen articles about Bucket #1 and Bucket #2, where you allocate assets to retirement income and liquidity. Now, we’re going to discuss the importance of Bucket #3.
The following article features content adapted from the book Momma’s Secret Recipe for Retirement Success by Dan Ahmad, Jim Files, and Jack Canfield. Get your copy here!
We’ve said it before, and we’ll say it again: You need a comprehensive, written retirement income plan if you’re serious about your retirement security. Your plan needs to tie everything about your money together, which we recommend doing with what we call the “3 Bucket Safe Money Approach.”
We wrote about Bucket #1 here in our first installment of articles on this topic, and you’ll want to read it before you continue below. Bucket #1 is the first step in your planning – the one where you determine how much income you need for the rest of your life and allocate the necessary assets to this pot of money. Bucket #2, which we’ll discuss in this article, is the second step in your planning. This is where you determine how much liquidity you need and allocate assets to this second pot of money accordingly.
We’ve talked before about the importance of a written retirement income plan to set you up for an enjoyable retirement free from financial stress. However, there are three baseline questions you need to answer for yourself in order to clarify and solidify your plan. After all, any retirement plan can only be effective if you truly know what you want out of your retirement, right?
Ask yourself the three questions below – and answer them honestly – to sharpen your focus on what retirement means to you. Then, use the added clarity to develop the best-written retirement income plan for you.
