RETIREMENT INCOME AND DISTRIBUTION PLANNING
01.Core Concepts
• Creating a plan to: • Produce a reliable income and investment strategy that will retain the desired lifestyle on an inflation-adjusted basis, and • Promote well-being • Psychological • Emotional • Social • Physical PREPARING FOR THE TRANSITION TO RETIREMENT (1 of 2) • Accumulation phase • Relies heavily on assumptions • Wage replacement ratio • Income and distribution phase • Preparation ideally begins at least five years prior to planned retirement • Outline the details of expected health, lifestyle, and spending needs in retirement • Many questions will arise