How to Turn Your Retirement Savings Into Income The Retirement Income Engine

Retirement isn't about hitting $1 million in savings or 12X your salary, it's about determining exactly how much income you'll need to live the life you want and strategically planning out your withdrawal strategy. You have to consider your expenses, plan for taxes, take into account market volatility, inflation, and the risk of out-living your retirement savings. In this video Cary walks you through two strategies for effectively working out your expenses in retirement, the three different approaches to drawing income in retirement, the most common withdrawal strategy and it's tax implications, the three big risks to a retirement plan and an example of how all these pieces fit together. ------------------------------------------ Work with us → https://www.greenerafinancial.com Check out our Green Era Financial YouTube channel →    / @greenerafinancial   Meet with Cary directly → https://calendly.com/greenerafinancia... ------------------------------------------- ⏱Video Chapters⏱ 00:00 - Intro 00:41 - How Much Income Do You Need? 01:08 - Two Approaches to Figuring Out Your Expenses 02:34 - Where Will the Income Come From? 03:16 - The 4% Rule 04:42 - The Income Buckets Strategy 05:56 - The Guardrails Approach 06:42 - Common Withdrawal Strategy 07:29 - Flexibility is Key 07:57 - Three Big Retirement Plan Risks 08:23 - Real-World Example 09:07 - Bringing It All Together ------------------------------------------- Green Era Financial LLC (“Green Era Financial”, “Green Era”) is a registered investment advisor offering advisory services in the State of Florida and in other jurisdictions where exempted. Green Era Financial LLC is not affiliated with or endorsed by the Social Security Administration or any other government agency. Registration does not imply a certain level of skill or training. The presence of this channel on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Green Era Financial in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption. All content on this channel is for information purposes only. Opinions expressed herein are solely those of Green Era Financial and our editorial staff, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to other parties’ informational accuracy or completeness. This content is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital. All information or ideas provided should be discussed in detail with a licensed financial advisor, accountant or legal counsel prior to implementation. #retirement #Over50 #retirementplanning