JT and David discuss strategies for creating income in retirement. One discussion point is the buckets of money approach to allocating your retirement account into specific buckets designed to accomplish certain goals.
Many folks took advantage of the high interest rates offered by Series I Savings bonds last year. If you are one of these we wanted to remind you of I-Bonds and when they mature so you can avoid potential penalties.
Beginning in 2023 the rules for Required Minimum Distributions have changed.
Your 70s and beyond are the golden years of your life. To this point you have worked hard, saved, delayed gratification and now is the time to enjoy that effort.
JT and David discuss the top 5 issues for recent retirees to consider. They include: 1) Shift in mindset: Taking distributions from a portfolio is very different from making contributions. 2) Income to match your desired lifestyle: Ensure anticipated income will match the spending necessary to match the desired lifestyle. 3) Investment Allocation: Investing in retirement is different from investing for retirement. 4) Plan for a medical event: No one likes to think about it but there should be a plan in place for a major medical event. 5) Transfer of Assets: How do you want your assets transferred and when? The golden years are the time to enjoy the fruits of your labor. Take time to address the 5 planning issues discussed.