What Is the Dangerous Decade in Retirement? (Ep. 39)
How do I turn my retirement savings into monthly income? If you’re within five years of retirement or in your first five years without a paycheck, a healthy account balance can still leave you uncertain. Your withdrawals, Social Security, taxes, and healthcare costs all affect how much income you have to spend.
In this episode of Retirement Solutions: The Podcast, Ryan Thacker and Tyson Thacker focus on how five planning areas connect during the five years before and after retirement, when choices about income can affect so much else.
Several big decisions arrive together during this transition. This conversation explains how coordinating them can help you see where your retirement paycheck may come from and what could affect it over time.
Ryan and Tyson discuss:
- How can an income plan map out where your regular retirement paycheck may come from?
- Why looking ahead at withdrawals and income may reveal tax questions that annual tax preparation doesn’t address?
- How Social Security timing can interact with withdrawals, pension income, taxes, and Medicare premiums?
- Why early market losses put an added strain on savings when you’re taking withdrawals?
- How healthcare planning can account for uncovered expenses, possible long-term care, and coverage before age 65?
- And more!
Resources:
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