#091: Retirement Drawdown Strategies Part 1
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 24 September 2018
⏱️ 31 minutes
🧾️ Download transcript
Summary
When you stop working, you've put aside some money into different types of accounts, and maybe you have a pension, or some rental property, or other investments. How do you start converting those assets into an income stream that will last for the rest of your life?
Brandon Renfro, Ph.D., joins Devin on a discussion about:
- The tax torpedo
- The Net Unrealized Appreciation Rule
- Provisional income and how much of your Social Security is taxable
For more details, visit the show notes at https://www.bigpictureretirement.net/091
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:13.0 | Hello everyone. Welcome to the Big Picture Retirement Show. This is the podcast for anyone who is planning for or living in retirement. I'm your host, Devin Carroll, |
| 0:23.1 | and John Ross, my co-host, is not here today. John is gone for a couple of weeks, but in his place, |
| 0:30.7 | I'm so excited we have Brandon Renfro standing in in the studio with us. Hey, Brandon. Hey, Devin, |
| 0:36.6 | what's up? Hey, before we jump |
| 0:41.2 | into today's episode, which is a fascinating conversation about retirement drawdown |
| 0:46.1 | strategies, something that individuals have been asking us for on our Facebook page, by the way. |
| 0:50.6 | So this is a topic they want to hear. You know, once you've worked, you've saved this money. |
| 0:55.1 | How do you start converting that to an income stream? But before we get there, since John isn't here, I want to do something else. They say we're not supposed to do this. All the podcast conferences we've gone to and all the training we've had, they say, no, don't do that at the beginning of your podcast, you're going to scare people away, but I'm going to try it anyway. |
| 1:11.9 | Yeah, what do they know? |
| 1:12.6 | Now, I know, those podcast pros. |
| 1:15.5 | So on iTunes, we are consistently in the top 200 investing podcast. Now, I don't want to see this show go |
| 1:24.9 | higher in the rankings just for my own ego, although it does help. |
| 1:28.9 | I have to admit, it's nice to see that. |
| 1:31.3 | But I do think that we're sharing some valuable information with people. |
| 1:35.2 | And the only way we can expose this show to more people is if they leave us a review and a rating and then subscribe to the show. |
| 1:41.9 | So do me a favor, would you? |
| 1:43.7 | Go out, look at that today. If you haven't already, leave us a review, subscribe to the show. That helps us. iTunes is going to boost us up, and more people will hear the message like the 1, we're about to bring you today. So, Brandon, let's jump into this, shall we? Let's say that we've worked at a job. Been there 35 years. We've managed to save in our 401k. |
| 2:06.0 | We've saved some on the side. We have our Social Security coming in, maybe even a pension, if we're |
| 2:11.4 | lucky. Now we're trying to decide how we're going to start converting that to an income to get us through retirement. |
| 2:20.3 | It's a bit of a scary thing, right? |
... |
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