3 Ways Retirement Income Should Protect You
How Do People Retire Without Retirement Income?
Once we cut back or stop working a written retirement income plan can protect in these three ways:
1) Paycheck? Needs - These are our monthly ongoing needs. Basics like food, clothing, housing, utilities, insurance etc.
2) Playcheck? Freedom/Fun - These are our wants, the fun we want to do or do more of now we have more time away from employment. This could be hobbies/crafts, travelling, more time with family and friends… etc.
3) Long-Term Care? Not To Be A Burden On Others - Extra monthly income if we slow down and need more help along with the ‘Playcheck’ funds. How can we plan so we can stay at home or worst-case scenario be cared for in a “cruise-ship without water” = an assisted living facility and stay out of a nursing home? (Without Long-Term Care Insurance)
A Properly Designed Written Retirement Income Plan Would Be:
• Stable/Predictable = a reliable steady flow of income
• Include other expenses like maintenance, repairs & upgrades to property, vehicles, special events…
• Ongoing if one spouse passes away
• Keeping up with Inflation
• Lasting = if you live to age 95+
Keep Your Eyes On The Prize = ENJOY RETIREMENT
• Not worry about money
• Have enough to last
• Focus on Your Prize! = Life, family, and what is important to you
We believe all retirees should have a written retirement income plan that has been tested for stability and not dependent on investment returns, with inflation and longevity incorporated. Please do not feel bad if you do not have a written retirement income plan. We can help you develop one. If you do or do not have this planned out; it would be prudent to have a second set of eyes look at your goals with your current income and investments to double check these will be met and not left to chance.
Gain More Confidence In Retirement With A Complimentary Written Retirement Income Plan.
Soutas Financial & Insurance Solutions, Inc.
333 West Shaw Avenue, Suite 106
Fresno, CA 93704