Multiple Income Streams
The Optimum Retirement Strategy – Multiple Income Streams
The optimum retirement strategy is to develop multiple passive income streams. This spreads out your risk so that if one income stream runs into trouble, you still have others to rely on. Even in retirement, it’s not a good idea to put all of your eggs in one basket.
For example, the average retiree in 2020 draws close to $1,500 per month in Social Security benefits. Combined, a couple averages about $2,500 a month. If you were to supplement those benefits with a $1,166 per month withdrawal from an income-oriented portfolio, that would yield nearly $44,000 in annual pre-tax income.
Where Does That Additional Income Come From?
That additional income might come from a variety of sources, including pension benefits, annual required minimum distributions (RMDs) from a retirement investment portfolio and/or issuer-guaranteed annuity payouts.
Do you need help ensuring that you have multiple income streams in your retirement? Request an appointment with Don to learn more about your options!
Additional Information About Retirement Income
How Much Income Do You Need In Retirement?
7 Tips for Minimizing Your Income Tax in Retirement
How to Plan Your Income for Retirement
Ready to Take The Next Step?
For more information about any of the products and services listed here, schedule a meeting today or register to attend a seminar.