The goal when you are retiring is to move from financial dependence to financial independence. You can make this happen, but it won’t happen without planning. If you are wanting to retire, you need to make note of all of your expenses and save accordingly for when you retire. There is a three bucket rule that financial experts have weighed in on and the idea behind the three bucket rule is to have short term savings, mid, and future savings.
Key Takeaways:
- Retirement income planning is turning your assets into an income stream
- Separate your income into three different buckets like short term, mid, and long term.
- The bucket system is most helpful when you are planning to go from income to retirement income.
“As you prepare to retire and move from paycheck income to retirement income, a new type of investment process is needed.”
Read more: https://advancedretirementstrategies.com/retirement-income-planning-and-the-bucket-strategy/
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