A Smarter Way to Manage Retirement Income
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 13 January 2025
⏱️ 32 minutes
🧾️ Download transcript
Summary
Retirement can be stressful, especially when the markets are unpredictable. In this episode, we'll talk about a simple strategy to give you peace of mind and financial stability in retirement. You'll learn how to set aside five years of income to avoid selling investments during market downturns, create a clear plan for where your money will come from, and adjust your approach based on your comfort with risk. This straightforward method helps you stay on track, worry less, and enjoy the retirement you've worked so hard for.
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Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:10.5 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.5 | I'm your host, Devin, joined by my co-host, John Ross. |
| 0:17.0 | Totally. |
| 0:24.4 | John. Ross. John, you and I have worked with retirees for a long time now. |
| 0:28.3 | Yep. |
| 0:28.8 | Here and there. |
| 0:29.6 | We hear a lot of the same things over and over and over and over. |
| 0:33.5 | And one of the things that I hear a lot when you're really exploring how people feel about retirement planning is a very common fear. |
| 0:41.7 | And we've talked about this before on the podcast, right? |
| 0:44.3 | There's this fear of spending their money in retirement. |
| 0:49.3 | And then what will compound that fear often is that when the markets get rocky, that fear will often turn |
| 0:56.6 | into just anxiety, right? |
| 0:59.1 | Right. |
| 0:59.5 | And sometimes really bad anxiety because now you're retired, you're not earning money, and the market's |
| 1:05.2 | going down. |
| 1:06.0 | What are you going to do? |
| 1:07.3 | Yeah. |
| 1:07.6 | I just somebody did this this week. |
| 1:10.0 | I was talking to them, and they've got a net |
| 1:13.8 | worth of four million in liquid, five million in liquid. CDs. Every penny of it. Awesome. |
... |
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