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Ep 49: Back To Basics - Understanding Income Planning
Manage episode 354914054 series 2712818
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Do you understand the basics of income planning? It’s important that you know this topic well and understand how it fits into your overall retirement plan.
Why is income planning so important for retirement? We’ll share the 10 states where $1 million in retirement savings will run out the fastest, which will show you how much it can vary for retirees. As we talk through this, we’ll also discuss what percentage of your income we recommend you save and invest. You don’t want to miss today’s show!
In this episode, we’ll share:
- How long does $1 million last in different states? (1:04)
- What percentage of clients have an income plan at the beginning? (9:13)
- How do you put together an income plan? (13:24)
Additional resources:
https://www.cnbc.com/2022/12/17/states-where-1-million-dollars-retirement-savings-runs-out-fastest.html
https://www.cnbc.com/2022/12/29/million-dollar-retirement-savings-lasts-longest-in-these-states.html
Learn more: https://caffeinecashflow.com/
Contact Michael:
https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897
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