According to the Social Security Administration, on average one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95.
Making your retirement income last may be one of the greatest challenges you face.
A plan on how to invest and how much to withdraw can go a long way to managing this risk as you near or enter retirement.
A few important questions to ask yourself include:
- What is my current income?
- How much retirement income do I expect to need?
- What are my current assets?
- Do I have assets that could be made available for additional income?
- How does inflation impact my income needs?
It is important to look at all your assets. Many may have appreciated greatly but are not providing enough income. This is where solid planning can help. There are many ways to unlock assets to provide income. Common assets that can be utilized for additional income include real estate, securities, and businesses.
There are a variety of planning options that may not only provide income for you or a loved one, but may also provide tax benefits to you as well as support ministry.
You can also email us at firstname.lastname@example.org to find out how additional income and tax savings may be possible for you.