If you’ve been a good saver for most of your life, you might find yourself in a position at retirement where you want to try to live off the interest the money can make you rather than tapping into your nest egg.
It’s a great idea and would go a long way toward protecting your money, but is it a realistic goal? In today’s episode, Lee is going to tell you why living off the interest in retirement probably won’t work.
Here’s some of what you’ll learn in this episode:
- When did people start having the idea that you could live off interest in retirement? 2:24
- Why this goal might have seemed realistic in the 70s and 80s. 3:42
- What has changed since that time? 4:47
- Here’s how we break down the math. 7:43
- This is why income planning needs to be more of a focus for retirees. 10:40
If you have any questions about what we discuss, set up a meeting with us anytime by visiting TalkWithLee.com.