The Three Pillars of Retirement Income
Retirement is a milestone many of us eagerly anticipate, but it also marks a significant change in how we manage our finances. Instead of a regular paycheck, we’ll rely on various income streams. So, what income streams will you have in retirement? And how can you plan for this stage before you retire? In today’s episode, we’ll cover all of that and more.
Replacing your paycheck in retirement isn’t an easy task. While growing your savings during your working years is essential, transforming those savings into income when you’re retired is an entirely different challenge. That’s why efficiently utilizing the three pillars of retirement income is crucial to providing the income you’ll need throughout your retirement years. Let’s dive in!
Here’s some of what we discuss in this episode:
- Strategizing your retirement accounts and Social Security together
- The shift from pensions to defined contribution plans in the U.S.
- The differences between traditional and Roth 401(k)s
- Understanding required minimum distributions in retirement planning
- The difference between traditional and Roth IRAs
Book a 15-minute discovery call with the team here: https://calendly.com/ask-bulmanwealth or ask questions via email at ask@bulmanwealth.com.
