@taxfreemike: Here's how to increase your retirement income without taking more risk. Use a two-bucket strategy. Many people just have #money in their IRAs or 401ks, then Social Security makes up the difference. However, what happens when markers go down? Your IRAs and 401ks lose money. Because of market risk, if you withdraw too much too quickly, you can run out of money. Most financial educators recommend only drawing out 4% of your balance. This is called the safe withdrawal rate. It's been tested through a variety of market cycles to not prematurely deplete your funds during market downturns. What if you want more #retirement income though? You'll need another "bucket" of money. A bucket that's outside of stocks and bonds. Many of my clients will use #cashvaluelifeinsurance as a volatility buffer. A high cash value #lifeinsurance plan can safely distribute retirement cash flow during bear markets, reducing the pressure on your stock & bond accounts when markets go down. Having two separate buckets of money to provide retirement cash flow can increase your sustainable withdrawal rates by 30% to 50%! If you're interested in learning more, comment "money" below!
