How To Best Plan for Retirement Income Gap Years

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 7 December 2021

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our topic on this episode of the Ready for Retirement podcast is about how to best plan for the retirement income gap years. Questions answered: What is the best strategy to prepare for years without income? What can I do to increase income before I can access my retirement accounts? What is the best strategy for your individual situation? Are you ready to start focusing on the things that truly matter when it comes to your financial future? We’re on YouTube! Check us out here for...

Transcript

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0:00.0	Discover the tips and strategies that will help you achieve your retirement goals.
0:09.3	I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.
0:14.6	It all starts right here on Ready for Retirement. for retirement.
0:29.0	Hi, everyone, welcome back to another episode of Ready for Retirement.
0:30.2	I'm your host, James Cannell.
0:35.2	And we have a listener question today that's about, well, it's about a lot of things, as most real life questions are.
0:36.9	A lot of these episodes I do, they're kind of one-off things, whether it's on taxes or maybe it's about a lot of things, as most real life questions are. A lot of these episodes I do,
0:38.3	they're kind of one-off things, whether it's on taxes or maybe it's on investments or maybe
0:42.4	it's on safe withdrawal rates or anything like that. But in reality, your question, what you're
0:49.0	planning through, what you're trying to create isn't just how do I invest better or reduce taxes
0:53.9	or where do I pull funds from first or what about Social Security. It just how do I invest better or reduce taxes or where do I pull funds from
0:55.2	first or what about Social Security. It's how do each of these things impact each other
1:00.0	and how do I put a strategy in place that makes sure I'm maximizing all of these variables,
1:04.7	not just optimizing for one variable at the cost or at the expense of everything else.
1:09.6	So in today's podcast, we're going to
1:11.1	explore that listener question. And we're going to see how do all these different types of
1:15.0	things, how do all these different variables impact one another and going into a decision?
1:19.8	Before we get started, though, I want to recently or want to highlight a recent review. So whenever you
1:24.0	all leave me a review on iTunes or on Apple Podcasts, really appreciate that and
1:27.6	want to highlight that. So this comes from Guitar Man Brian. He says, this podcast doesn't
1:32.4	waste time with simplistic advice or silly as sides. He gives well thought out, in-depth answers to the
1:36.8	questions posed. He makes me want to call my financial advisor and ask questions to better prepare
	...

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