Generating a sufficient retirement income is all about efficiency. It’s about making adjustments to minimize tax, maximize your income, manage your assets, and make your assets last as long as you do. Every person’s investment strategy should be unique based upon their age, income, assets, liabilities and retirement goals. For those people who have already retired from the workforce, often their main objective is to preserve what they have saved and generate income to fund their retirement. As a general rule, they are also less willing to assume risk or see their investments fluctuate.
What are your concerns?
- Do you need to build a portfolio that will generate cash?
- Are you more concerned with paying your bills and having enough income than increasing your wealth?
If so, you need to shift your focus to income-generating vehicles and take only as little risk necessary to achieve your ideal retirement. There are several vehicles to produce income and dividends all with pros and cons which is why it’s important to understand the unique features of all the options available. If you find yourself concerned about the long-term sustainability of your assets or simply cannot afford to risk your retirement, set up a free consultation with one of our trusted advisors today!