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!
On 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]
Articles mentioned on the show:
https://www.cnbc.com/2022/12/29/million-dollar-retirement-savings-lasts-longest-in-these-states.html
If you have any questions about how you can better prepare for your retirement future, don’t hesitate to reach out to Michael Schulte for help.
He’s a Financial Advisor and Certified Business Exit Planner at WestPac Wealth Partners. His daily mission is to help families and business owners make smart financial decisions so they can live on their own terms for the rest of their lives, regardless of what life events and opportunities come their way.
Call Michael at 702-767-4897 with any of your questions or email michael.schulte@westpacwealth.com.
