Retirement Income

You spend your life working and saving, but in retirement everything turns upside down as you transition to a life of leisure and need to turn those savings into reliable retirement income.

There are different ways of determining how much retirement income you will need and many different strategies for securing that income.

Your retirement income may come from a mix of savings withdrawals, Social Security, pensions, passive income, annuities, retirement jobs, and more.

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Are You Wealthy? 19 Ways to Define Wealth

Are you wealthy? Are you defining wealth correctly? See how people think about wealth and compare your financial well being to others’.

July 29, 2021
how to apply for social security

How to Apply for Social Security: Easy Steps to the Right Decisions

Find out how to apply for Social Security. Applying for Social Security is very straightforward. The real trick is deciding when. Get the inside scoop!

July 21, 2021
retirement income plan

3 Steps to a Retirement Income Plan: Nobel Prize Winner Helps You Figure Out Your Best Options for a Secure Future

Nobel prize winner Robert Merton outlines the 3 steps you need to take to create a retirement income plan for a secure future.

July 18, 2021
social security strategies

Social Security Strategies: 15 Easy Tips for Making the Best Decisions

Choosing the right Social Security strategies can be a $100,000 (or more) question. Find out how to make the most of this benefit with 16 easy tips.

June 30, 2021
living on social security alone

11 Ideas for Living on Social Security Alone

Living on Social Security alone really is possible. Get the scoop on 11 ways to make it work for your situation. Read now!

June 30, 2021
lockbox strategy william sharpe

The Lockbox Strategy and 10 Other Retirement Income Tips from Nobel Laureate, William Sharpe

William Sharpe has contributed significant brain power to solving for retirement security. Learn about the lockbox strategy and other ways to set up your retirement income.

June 10, 2021
stimulus

24 of the Best Ways to Spend Your Stimulus Check

Depending on your income (not your assets), you may be receiving a stimulus check of somewhere between $1,400 and $2,800. How are people putting this money to use? We asked the NewRetirement Facebook group and it turns out that the uses are as varied as we are individually. Many are looking to spend the money…

March 18, 2021
low interest high return investments

14 Low-Risk, High-Return Investments: How to Make Money in a Low Interest Rate Environment

When you are retired, or near retirement, it is generally a good idea to have a percentage of your savings in investment vehicles that are lower in risk.  However, it can be difficult to find low-risk, high-return investments — especially now with Certificate of Deposit (CD) and savings account rates at less than one percent.…

February 18, 2021
average retirement income 2021

Average Retirement Income 2021: How Do You Compare?

How are you going to pay for retirement? How is everyone else doing it? What is the average retirement income for 2021? Has it changed a lot from past years with the pandemic? Are you anywhere close to average? 2020 was a devastating year for the finances of many households. And surprisingly, it was also…

February 10, 2021

Podcast: Dana Anspach — Retirement Income Planning

The 50th NewRetirement podcast! This time, Steve Chen is joined by guest Dana Anspach — Certified Financial Planner™, author, and the founder of Sensible Money — and discusses her practice and approach to retirement income planning. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And, join our private Facebook…

December 17, 2020
effects of low interest rates

What Are the Effects of Low Interest Rates on Your Retirement?

You may have seen the news: Interest rates in the United States are at historic lows. That sounds great. But is it really? What are the effects of low interest rates on your retirement? Read on to see the pros and cons of low interest rates on your retirement plan. And, how to make the…

October 29, 2020
tax withholding in retirement

How Are Different Retirement Income Sources Taxed? And, How Does Tax Withholding Work in Retirement?

Retirement tax planning is a critical part of preparing for a secure future. The good news is that with so many possible retirement income sources, you have many different opportunities to potentially reduce your tax burden. And, you may even discover that reducing taxes can enable you to retire a little earlier than you might…

October 29, 2020
tax free retirement income

7 Sources of Tax-Free Retirement Income

You’ve worked diligently and paid your taxes along the way. When retirement finally arrives, you deserve to collect at least some tax-free retirement income without Uncle Sam coming back for more. With a bit of strategic planning, it’s possible to enjoy much or even most of your retirement income tax-free. The following seven sources are…

September 18, 2020
retirement withdrawals

Your Guide to Developing a Retirement Withdrawals Strategy

You’ve spent your entire working career saving and investing for retirement. Now it’s time to develop a retirement withdrawals strategy. When you are thinking about withdrawing money from your retirement accounts, it’s important to come up with a strategy that ensures that your savings are going to last for a lifetime, are used efficiently, and…

July 7, 2020
how to make money in retirement

How to Make Money in Retirement: 14 Real and Really Easy Ways to Boost Income

Regardless of where you are in life, it’s always nice to make some extra money.  And that is especially true in retirement. But, how to make money in retirement when you’re supposed to be simply enjoying the easy life?  The retirement gigs listed below won’t be quite enough to cover retirement expenses, but they won’t…

July 5, 2020
retirement target date fund

Pros and Cons of a Target-Date Fund

A retirement target-date fund is a  professionally-managed mutual fund that is strategically reallocated over time to achieve both growth and security for your assets. The key goal for a target-date fund is that your money will be available for withdrawal on a  targeted retirement date in the future. When you invest in a target-date fund,…

July 3, 2020
Happy Retirement

Surprising Tips for a Happy Retirement

After the stress of building careers and raising kids, most people’s happiness seems to start increasing at around age 65. And, we keep getting happier until it peaks at around age 85. Want to do a little extra to make sure you have a happy retirement? Try these tips: Think About Your Death Yes, you…

July 1, 2020
Early retirement

5 Steps for Defining Your Retirement Drawdown Strategy

If you’re reading this, you’re likely someone who: saves money, has built up some assets, and is starting to think about how to create a retirement drawdown strategy – a plan for how to turn your assets into income that will last for life. Having a sound retirement drawdown strategy and keeping to it is…

June 29, 2020
Retirement

Retirement 101: What is Fixed Income?

The term “fixed income” can be confusing. Many adults of all ages have a reasonably steady income, whether from a salaried work position or dependable work at an hourly job. But a fixed income, at least as it applies to budgeting and investing for retirement, is something different. A fixed retirement income might sound great…

June 28, 2020
retirement income

How to Build a Retirement Income Plan

“The most important thing you can do for your retirement is have a plan, specifically a retirement income plan. A plan covers far more than what investments to pick. Investments are the last part of the plan; the icing on the cake. They should come only after you have the main meal menu in place,…

June 6, 2020
pension vs. lump sum

Lump Sum vs. Pension: What is the Better Option?

A very common question from pension recipients is: “Our employer gives us a choice of either a pension or a lump sum when we retire. What is the better choice for me?” Choosing the Pension Option How is the Pension Being Funded? Your pension may be an annuity purchased from an insurance company by your…

June 1, 2020

Podcast: Glen Nakamoto — Building a Retirement Paycheck

Episode 41 of the NewRetirement podcast is an interview with Glen Nakamoto — retired cyber security analyst and financial planning enthusiast. They discuss how Glen built his own lifetime retirement paycheck with a guaranteed income floor using immediate annuities. Glen outlines how he built his plan and paycheck. Listen Now: Don’t miss out on future…

May 28, 2020
Using an income floor for financial freedom

Building a Retirement Paycheck Through Retirement Income Planning

This deep dive into the concept of using an income floor to establish a three bucket plan for retirement income needs comes from Glen Nakamoto. First of all, just to make clear, I am not a financial advisor or anyone who has any background in financial planning. Before I retired, I was a cybersecurity analyst…

May 11, 2020
will i run out of money in retirement

Knock Out Worries About Running Out of Money! Give Your Retirement Plan the 1-2 Punch it Needs!

Believe me, you are not alone if you have nervously asked yourself, your spouse or even a financial advisor: “will my retirement savings last as long as I do?”  Concerns about running out of money in retirement are almost universal — no matter how much money you have.  After all, there are many unknowable variables…

July 23, 2019

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