When I meet with prospective clients who are close to retirement, many have similar questions or concerns as they transition from saving for retirement to evaluating options on using their savings for retirement income.
"How can I start receiving income while still positioning my investments for future growth?"
"What is a safe withdrawal rate for my portfolio?"
"Are there any steps I can take to lower my taxes?"
The mindset of simply "living off interest" that retirees were able to utilize in the past will not generate much income or keep up with inflation in today's low interest rate environment. A portfolio must now be designed with the appropriate asset allocation (or risk) that will generate income and keep up with inflation throughout retirement.