You Can't Retire Until You Know THIS

05/22/24 • 11 min

In this episode we review a simple retirement formula that you can use to find the minimum amount of portfolio assets you would require on the day you retire.
We call this formula the "Required Portfolio Income" formula.
Required Portfolio Income is a fancy way of putting a dollar number to your expected distribution rate.
Thinking only about distribution rates is very hard to relate to for most of us.
We think in terms of dollars and cents.
Therefore, translating that distribution rate into an actual dollar amount answers the question:
How much money will I need to take out of my portfolio each year in retirement in DOLLARS.
Getting familiar with this formula will help take your retirement planning efforts out of the theoretical and into the practical...

Listen to the episode to learn more.

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Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Schedule a free consultation
Email me: [email protected]

Visit my Youtube Channel

Listen to the episode to learn more.

If you found this episode helpful, subscribe so you don't miss any future episodes.

Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.

Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Schedule a free consultation
Email me: [email protected]

Visit my Youtube Channel

Previous Episode

Retirement Plannings Missing Phase (The Retirement Risk Zone)

Avoiding retirement planning until JUST before you retire is extremely dangerous.
To use an analogy we are all familiar with - it would be like waiting to lose weight until you have a heart attack scare.

Planning for retirement is like turning the Titanic - not like turning a speed boat.
You need time and runway to maneuver so that you don't make rushed decisions from a place of panic or urgency.

This video will teach you the importance of retirement planning EARLY and educate you about THE MISSING PHASE OF RETIREMENT PLANNING so that you can take control of your financial future.

By the end of the episode, you'll be ready to start your retirement planning and make sure you're on track for a SUCCESSFUL RETIREMENT.

If you found this episode helpful, subscribe so you don't miss any future episodes.

Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.

Eric Amzalag, CFP®, RICP®
_ _
Want help with your Retirement Plan?
Schedule a free consultation
Email me: [email protected]

Visit my Youtube Channel

Next Episode

Social Security for Dummies

This podcast will cover all things social security.

How social security works
- Explain 35 years of earning
- Full retirement age (what age it is)
- Early claiming (decreased benefit)
- Delayed claiming (increased benefit)
- How social security is taxed
Explain the “Claiming decision” - factors to evaluate
- Other sources guaranteed income
- Portfolio size
- Early or later - push back risk by claiming earlier or bring forward risk by claiming later?
- Spouses guaranteed income
Social Security as an investment
- Explain COLA (the power of it!)
- It’s an annuity - delegating investment responsibility
The long term viability of social security and whether to plan for it
- According to a recent update from the Center for Retirement Research:
Likely changes to social security : Cost of living adjustment, reducing level of benefits, or increasing retirement age.
- Reducing the COLA by 1% per year would solve half of the social security shortfall
- Increase retirement age from 67 to 70 over a period of 12 years. This would solve half the social security shortfall

Listen to the episode to learn more.

If you found this episode helpful, subscribe so you don't miss any future episodes.

Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.

Eric Amzalag, CFP®, RICP®

_ _

Want help with your Retirement Plan?

Schedule a free consultation

Email me: [email protected]

Visit my Youtube Channel

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Navigating the Retirement Risk Zone - You Can't Retire Until You Know THIS

Transcript

Eric Amzalag00:00:00.320

How much money do you actually need in order to retire? So this is a complicated question for most of us to answer and and more so because if you go online and you do some quick searches about how much do I need in order to retire at any age, you're gonna find a lot of different competing information that give you random multiples of portfolio assets. The truth is this is actually a pretty simple number to calculate, but it is very individual.