44 - 7 Steps to Setting up a Retirement Paycheck

Summary In this episode, we break down the complex process of setting up a paycheck in retirement into simple, manageable steps. We provide insights on assessing your expenses, adding up income sources, calculating the amount needed from your investment accounts, and more! Join us as we share tips on choosing the right withdrawal account, creating your own withdrawal frequency, and the importance of reviewing and adjusting your plan. Whether you're nearing retirement or just starting to plan, this episode offers valuable insights to help you optimize your money and create a sustainable plan for your retirement years. Don't miss out! Resources Genworth cost of care calculator Social Security benefits optimization tool (https://opensocialsecurity.com/) https://www.kitces.com/blog/consumption-gap-in-retirement-why-most-retirees-will-never-spend-down-their-portfolio/ https://www.financialplanningassociation.org/sites/default/files/2021-11/2006 - Guyton and Klinger - Decision Rules and SWR (1).PDF https://www.kitces.com/blog/probability-of-success-driven-guardrails-advantages-monte-carlo-simulations-analysis-communication/