Understanding Income Planning in Retirement

08/03/23 • 16 min

Another Day In Retirement Paradise with Eric Judy

In this episode, we'll uncover the secrets of guaranteed income versus the uncertain stuff and shed light on the consequences of retiring without a clear income plan. Don't worry if you're feeling lost - we've got your back with practical solutions and expert guidance. Tune in and take charge of your retirement cash flow!
Here are some of the things you’ll learn in this episode:

The different types of income sources that we typically use for clients.
How you should diversify your income streams like you do investments.
What is guaranteed income versus non-guaranteed income.
How to structure your income to cover your needs and what to use to take care of those wants.

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy

The different types of income sources that we typically use for clients.
How you should diversify your income streams like you do investments.
What is guaranteed income versus non-guaranteed income.
How to structure your income to cover your needs and what to use to take care of those wants.

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy

Previous Episode

Understanding Changing Expenses in Retirement

In this episode, we’ll explore many of the expenses in your life that might drastically change (one way or another) in retirement. We’ll break those expenses down further to see which ones are the top priorities and analyze some of the other factors that impact your cash flow in retirement.
Here are some of the things you’ll learn in this episode:

The different housing expenses that could have a significant impact.
Once you stop working, you will likely eliminate some expenses that have become part of your daily routine.
The tax implications you might face and how to find strategies to mitigate that.
When you no longer have those monthly savings contributions, it could free up a good chunk of money.

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy

Next Episode

Countdown Clarity: Timing Your Retirement Preparations

From figuring out the right time to be debt-free and when to adjust your portfolio risk, to deciding when to plan for your Social Security benefits or healthcare coverage, this episode guides you through the ideal timeline for each. Tune in to find out how far away from retirement you should have answers to these pressing questions.
Here are some of the things you’ll learn in this episode:

When should you aim to be debt free?
When we want to take a close look at income and figure out where everything will be coming from?
The discussion we have with clients about Social Security and a claiming strategy.
Should you and your spouse retire at the same time or should you stagger your dates?
Do you have too much risk in your portfolio for your age?

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy