Updated: Nov 8, 2021
3 Reliable Ways to Steady Your Income.
The continued uncertainty of the economy and stock market has millions of Americans worried that their retirement could be rocky and unstable. When the stock market is roaring, it’s easy enough to believe that potential gains will continue to fund a stable retirement. But when the stock market becomes wobbly and unpredictable, current and future retirees start to ask themselves: Will my income in retirement be reliable?
If you’re in the critical period of five years before through ten years after retirement, you might be worried about maintaining your income during times like these. The market and economy teeter back and forth, and you’re concerned about being caught on the downside — right when you need the money.
You might be asking yourself:
Is there anything I can do to help stabilize my cash flow, even if my investments are fluctuating?
How do I handle the uncertain future without giving up too much?
Will my spouse be able to enjoy a steady stream of cash flow when I’m gone?
Here are 3 Reliable Ways to Steady Your Income:
Social Security is the biggest source of government-guaranteed, inflation-adjusted, lifetime income you’ll have in retirement, but much of the available information is contradictory, confusing, and downright incorrect. Fortunately, there are still decisions you can make to boost your Social Security payout as much as you possibly can.
Though many Americans no longer have access to pension plans, some do. Pensions can be a critical component to help provide steady retirement income if you have access to one. Understanding how to potentially maximize your benefits is key to optimizing this key source of income.
Transitioning your portfolio from the “building phase” to the “retirement phase” is critical to creating your stable income stream. Fortunately, there are many strategies that don’t fluctuate just because the stock market does. Including these assets for a portion of your portfolio can help steady it, even when markets or the economy are teetering on the edge.
Don’t allow stock market uncertainty to destabilize your retirement income. We can help you discover ways to balance chaotic market conditions with a more reliable stream of income through the turbulent times ahead. Download our free guide or give us a call to learn more.