Throughout your working life, you’ve received a paycheck on a set, regular basis. And, you probably knew exactly how much each check was going to be. Now you’ve retired, and rolled over your 401(k) and other retirement plans into your IRA. You’ve saved diligently and have accumulated wealth within your plans, but now what? How do you transition your wealth into income to cover your living expenses?
We’re going to take a look at the different investments you might use to generate income, some strategies for distributing your income, a few things to keep in mind on an ongoing basis, and finally, we’ll look at additional planning that you should be doing at this stage of life.