Michael Viñal explains how to convert retirement savings into steady income over 20 to 30 years without depleting your principal. He covers the risks of variable investment returns and shows an alternative bucket strategy to avoid running out of money.
When we are ready to retire, we must convert the growth of our savings and investments into a source of regular and reliable income, an income that will last for 20 or 30 years of retirement. Of course, most financial advisors will advise us to withdraw only the interest, dividends, or profit on our investments so that we can never run out of money. But we know that interest rates, stock dividends, and market valuations will vary considerably from year to year. Especially over 20 or 30 years of retirement. And if our investment earnings cannot provide us with enough income, we will need to take withdrawals of both earnings and principal and manage those withdrawals very carefully as we spend down our savings over 20 or 30 years. But if we make any miscalculations, or if our investments do not perform as well as we expect them to, or if we should live longer than 20 or 30 years, We could very easily run out of money. So what's the alternative?
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