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Episode 25: Diversifying Your Income

You’ve heard of diversifying your portfolio, but what about your income sources?
By now you have probably figured out that we believe success in retirement is tied closely to your retirement income. Do you have a paycheck in retirement that you can rely on, like a pension? How about your Social Security check, does it pay you enough to live your life comfortably? If the answer is no, then you most certainly need to focus on positioning your retirement dollars properly to develop a regular paycheck through a normal systematic withdrawal. But, what’s the best way to do it? Should you take a chance with the stock market and see if the money lasts as long as you do? Or, should you help protect the money and buy an annuity or CD? Today, we want to talk about the importance of making sure you have a plan for how the income will continue to roll in during retirement. In reality, diversifying your income sources is probably in your best interests.

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