Strategies for accumulating wealth receive much more attention than strategies for decumulating wealth despite the fact that, as the author of today’s article points out, nowadays the decumulation phase of one’s life can be just as long as the accumulation phase. He also acknowledges problems with safe withdrawal strategies, including the fact that there’s a good chance you’ll end up leaving money on the table when you die. Instead, he states, “If that’s not what you want — if your goal is only to spend as much as you can in your lifetime without running out — my calculations show that there’s a much better way.” For more, CLICK HERE.
When it comes to annuities, the author of today’s article has some very strong (negative) feelings, asserting that “Whatever you think an annuity can do for you, it can’t. Or there is likely a cheaper, better, more flexible way to do it.” What kinds of annuities does he declare are “bogus” (and why)? What kinds of annuities does he describe as “the slow-killer cigarettes of investing” (and why)? And what does he outline as a better approach when it comes to retirement income? CLICK HERE.
An encore career in retirement can provide many advantages, financial and otherwise. On the financial front, for example, income from an encore career can help retirees delay claiming Social Security benefits – and thus increase the benefit amount they ultimately receive. However, the author of today’s article cautions that, when considering embarking on a postretirement career, “there are some important tax and other financial considerations to understand before taking this route.” What are some of the potential financial drawbacks of an encore career to be aware of? CLICK HERE.