An income distribution strategy will help generate lifetime retirement income, prevent spending too much or too little, increase income efficiency (higher spending and/or increased legacy values), and mitigate the most significant retirement risks (inflation, timing, and longevity).
Longevity, the risk of living a longer-than-expected life, is the greatest risk retirees will face.
For many, the retirement equation appears complicated and overwhelming. Thankfully, at the most basic level, it comes down to just three relatively straightforward buckets: savings, income, and lifestyle.
The 4% rule can put your retirement at significant risk of running out of income.
In retirement, there are three general paths people take: those who spend too little; those who spend too much; and those who identify the optimal spend level.
It's important to think and talk about retirement income while you're accumulating retirement savings.