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| Balance lifestyle and long-term sustainability of the retirement portfolio. |
RETIREMENT INCOME PLANNING
Part 1 of 7 Series:
THE ROAD OF RETIREMENT
The Process of Managing Retirement Income
The oldest of the baby-boomer generation is now 63 years of age and moving ever closer to the age when a "traditional" retirement would begin.
Much has been written on the impact the baby-boomer generation has had on society and what retirement will look like for them going forward, but there hasn't been enough written on the topic of retirement income planning, from a process point of view.
The road of retirement should be paved with more than good intentions. Soon-to-be retirees need to develop and follow a retirement income plan that balances current lifestyle and long-term sustainability of the retirement portfolio. The Road of Retirement series provides some best practices for accomplishing this balance.
In advance of reading the various articles, it is important to be acquainted with the unique language of retirement income planning.
It has emerged in the past ten to fifteen years as academics study the unique issues facing the baby-boomer generation. While this is not meant to be an exhaustive list, it will provide some of the essentials for the topics addressed in this Road of Retirement series.
- Longevity.
- Sustainability.
- Purchasing Power.
- Initial Spending Rate.
- Current Spending Rate.
- Spending Policy.
- Accumulation Phase.
- Reverse Dollar Cost Averaging.
- Sequence of Returns.
- Legacy.
- High and Growing Dividend Stocks.
- Real Returns.
- Real Return Hurdle.
- Income Replacement Ratio.
Best Practices for Retirement Income Planning
FIND A TRUSTFUL FINANCIAL ADVISOR
The use of a trusted financial advisor to help you thoughtfully develop and adhere to a retirement plan during your journey on the road of retirement is highly recommended. While baby-boomers are expected to spend many years in retirement, with this extended time will come many changes in the financial markets, family needs, health concerns, and legacy issues. These changes will result in times of challenge and prosperity. A good financial advisor will provide the last line of defense between you and yourself during both.
If you would like us to mail you the information KIT with a FREE CD discussing the ins and outs of managing your retirement income please contact us today.
Review it online here: www.Thornburg.com
Let us get you started!
Online at our website: www.LamonAndStern.com
Call us at 770-951-8411
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Disclosures:
Following these strategies does not assure or guarantee sustainability of a retirement portfolio or better performance, nor do they protect against investment losses.
The views expressed in this article are subject to change.
