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Old 04-11-2014, 06:54 AM
 
Location: Central Massachusetts
4,800 posts, read 4,850,322 times
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Unlike the last Forbes article I posted here, this article is useful. Jamie Hopkins at least has enough meat and potatos in this one that once you have read it you can either perform the tasks yourself or know enough to higher a "Retirement Income Certified Professional (RICP)", I guess they have financial planners that are specialized like to this point. Certainly it helps if you have professional help but it is also not something you have to have. Anyway here is the piece.
Why the Stakes are Higher with Retirement Income Planning than Retirement Savings - Forbes


What I like out of here is that he at least gets you thinking as to what you will go through in that transition from accumulation to using the income from your accumulation. That transition can be as slow or as quick as you need. Some of you can transition smoothly from full time employment to full time retirement. So will need to slowly wean out of the workforce by taking a part time gig. Everyone has specific needs and there is no one method for everyone. If you have done the effective planning and executed a good accumulation phase you should then as you draw closer to that magic day put the same effort into that transition.
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Old 04-11-2014, 12:16 PM
 
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Great link with food for thought for everyone. The topic of drawdown and income planning gets discussed in this forum a lot. What needs to be remembered is that we all have different retirement income variables. Relying on what others say can come with great risk.
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