The Gap – Federal Benefits to a Written Retirement Income Plan
The Sources of Retirement Income
Social Security? Pension? You might have retired military pay or VA disability income! All those can be funneled into sources of retirement income. But then, once they do, is there a gap remaining?
Remember, I have mentioned this in the past; you need to establish your monthly income needs in retirement first. Then you identify your various sources of income. Once you figure those out, if there’s a gap at all (between your expenses and income sources), you’ve got to figure out how to make up for that gap. And that’s where a lot of the anxiety about retirement finances comes in.
Finding Your Retirement Zen
Now, how will you solve that income gap so you have peace of mind? How will you come back to your Zen place? I first heard that expression back in Pittsburgh when I was a kid and had my first car. I went to a little jazz venue, and the main jazz player and singer had what he called his “Zen car.” So how are you going to find or create that place of serenity?
Let’s face it, in retirement, you want to be chill. That’s what you want your golden years to feel like—relaxing, right? So how do you find that sense of calm? It could be so much easier if you have an investment plan in place that bridges any income gap and allows you to take trips and pursue whatever activities you want to enjoy, don’t you think?
A Written Retirement Income Plan
To pursue those retirement dreams, what you might need is a written income plan. We call it a Written Retirement Income Plan, and we refer to it as our CRC here at CD Financial. That stands for Charted Retirement Course.
Parallel story: We have navigational line graphics in our whale’s tail logo to refer to the whales that migrate up to the Arctic Circle in the summertime and come down to Baja California, Mexico, in the wintertime, and they never get lost. They know their routes and follow them consistently.
Do you notice any similarities between these whales’ routes and a written income plan for retirement? You’ve got to put it down in a written plan and segment that retirement savings appropriately. Some of it should be devoted to creating a stable income stream that does not fluctuate any more than your paycheck did when you were working. Your regular paycheck didn’t go up and down with the markets, did it? No, so your retirement income stream shouldn’t either.
If you want expert support on creating that written plan, check out this video about mapping out your retirement finances. Or schedule a call with me here.
Once you establish that Charted Retirement Course where you never get lost in the volatility of the financial seas, just like the whales migrating across the oceans, you will most likely have found peace of mind in your retirement income plan. You’ll know that it doesn’t matter what happens in the turbulent stock market because you’ve got your investment plan squared away. That is the power of a well-written retirement income plan.
The Key to Retirement Peace of Mind
Remember, you don’t need to work longer; you just need a better plan. To develop a retirement income strategy, click here.
To the peace of mind, you deserve in retirement.
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