Generating
Retirement Income

How to Create the Income You Need

 

When it comes to retirement, saving enough money to cover your income needs once you retire is usually the easy part. The harder part is generating income in retirement and ensuring that the money you saved over the years is put to work for you in the most effective and efficient ways possible. For this reason, it could not be more critical to equip yourself with the knowledge you will need to make sure that you are on the right track in terms of your retirement income strategy. There are so many pitfalls to take into consideration, and it is always important to have a good sense of how current economic conditions can impact your investments. We put together this guide to give you a sense of some of the risks, pitfalls, and strategy considerations to keep in mind as you game out your retirement plan. We will also provide you an outline of some key Social Security claiming strategies, as well as some overlooked costs in retirement and ways to ensure that you do not outlive your money.

While it is important to develop a comprehensive understanding of the concepts and strategies outlined in this guide, it is critical to partner with a financial advisor who will act in your best interests and help you turn your plan into action. There are many different moving parts when it comes to managing your investments and the rules change frequently, so it might make sense to consider working with an advisor in order to provide you with some peace of mind in retirement. At the end of the day, you will want to collaborate with an advisor who is a fiduciary and puts the best interests of you and your family first. If you are a do-it-yourself investor, or if you already work with an advisor, a second opinion could be beneficial to you in the long run. If you have any questions or would like to chat with one of our advisors at the Armstrong Advisory Group, give us a call. We look forward to working with you.

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