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Finding Financial Freedom with The Frugal Physician - Finance, Wellness, Budget, Student Loans, Wealth, Doctor, Fitness, Money
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Ep27: Maximizing Retirement Income, Morningstar's 2023 Report
Manage episode 436561512 series 3595688
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Dr. Disha discusses the valuable insights from Christine Benz of Morningstar, particularly focusing on Morningstar's State of Retirement in 2023 report. The report provides forward-looking guidance on retirement income, utilizing Monte Carlo simulations to predict various outcomes. It explores safe withdrawal rates, flexible withdrawal strategies, and the concept of a TIPS ladder for guaranteed income. Additionally, the episode touches upon the importance of bonds and provides information on different types of bonds, including Treasury Inflation Protected Securities (TIPS).
Additional resources mentioned:What is the Safe Retirement Spending Rate in 2023 and 6 Retirement Spending Strategies: Visit this link for a free download of Morningstar’s latest retirement spending report.
Open Social Security Tool by Mike Piper: Access the tool at Open Social Security.
Looking for something specific? Here you go:00:02:43 Flexible strategies for retirement income.
00:06:11 Tips ladder for guaranteed income.
00:11:31 Invest in EE bonds for retirement.
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Please note: The content shared on the podcast is for informational purposes only and should not be considered individualized financial advice. It is essential to consult with professionals such as accountants, financial advisors, or attorneys to receive personalized guidance based on your specific needs.
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