Retirement Income Planning Essentials

Do you know where your income will come from once you are retired? We talk through income planning for retirement and mention a few things to look out for as you make your plan.
Share this episode with a friend:

Today’s Question:

Do you know where your income will come from once you are retired? We talk through income planning for retirement and mention a few things to look out for as you make your plan.

Click on the timestamps below to jump to specific topics. 

Confidence Corner

What income streams will you have once you retire? Whether you’re thinking it will come from your salary, your Social Security, your bonds, or your investments, it’s important to have a diversified plan that covers your needs and provides for your loved ones. 

Retirement can be decades-long, not just a few years. But some people assume they won’t live as long or think they’ll work longer so they don’t need to save as much. The thing is, you still need to have some type of plan to take care of your loved ones.

What kind of plan do you have in place? There’s always a reason to make sure you’re preparing for the future. Don’t forget about inflation! Right now, we’re seeing it raise at a more rapid rate. This can have a major impact over time on your retirement income. Healthcare costs are also on the rise. Social Security likely won’t cover both of these in the way that you need it to, so you’ve got to have more in place.

Bonds may be sliding down. With inflation up and bonds going down, you want to reconsider your plan for safety. Don’t forsake diversification, even in retirement! Don’t put all of your money in bonds or annuities or real estate. Have a lot of different buckets to help outpace inflation. You need to have multiple income streams in retirement. Do you have your plan set up in a way to provide the type of flexibility you need?

Listen to the entire episode or skip ahead using the timestamps below.

0:57 Fall is here!

2:50 Are you planning for a long retirement?

5:26 Do you want to work all through retirement?

8:11 Inflation is a real thing.

11:44 Bonds are going down.

14:50 Have multiple income streams.

A Point Of Wisdom:

There are some uncertainties in life—a lot of uncertainties in life! One of those is, we don’t know how long we’re going to live. We don’t know how long we’re going to be able to work. 

-Nathan O’Bryant

 

Related Content:

PODCAST: Retirement Blind Spots 

PODCAST: Reading the Financial Fine Print 

 

Additional Resources:

Schedule A Meeting

Download Your Retirement Rescue Toolkit – Learn More About Our Firm

 

Your Guide:

Nathan O’Bryant – Contact

Share this episode with a friend:

EXPLORE MORE EPISODES

How To Successfully Climb The Retirement Mountain

Ready for an adventure? Sometimes climbing a mountain is full of adventure, and sometimes it’s more about being prepared. You have to get the proper gear, get used to using it, and practice before you summit a major mountain. Doing something step by step over time may be boring at times, but it helps you get to the goal. The same is true with saving for retirement.

Listen Now »

The Financial Cereal Bowl

What can we learn about retirement planning from browsing the cereal aisle at the grocery store? We love finding relatable ways to teach about financial topics, so let’s scoop up a few bites of financial understanding on today’s show.

Listen Now »

YOUR HOST

Nathan O’ Bryant is the founder of O’Bryant & Associates, Inc., a Registered Investment Advisory firm in the state of TN. He’s been helping people plan for retirement and their financial futures for more than 15 years.

The weekly podcast features discussion and excellent guidance on the important financial planning questions we all have. Whether it’s tax planning, retirement income, social security or the stock market, you’ll find that no topics are off limit on this show.

YOUR HOST

Nathan O’ Bryant is the founder of O’Bryant & Associates, Inc., a Registered Investment Advisory firm in the state of TN. He’s been helping people plan for retirement and their financial futures for more than 15 years.

The weekly podcast features discussion and excellent guidance on the important financial planning questions we all have. Whether it’s tax planning, retirement income, social security or the stock market, you’ll find that no topics are off limit on this show.

SUBSCRIBE