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8 Essential Principles Of Planning For Retirement (Part 1)

8 Essential Principles Of Planning For Retirement (Part 1)

Your financial life can be divided into two phases: accumulation and distribution. The accumulation phase is when you are earning money, building up your savings in preparation for retirement. This phase begins when you start earning an income and ends when you retire. The distribution phase comes after you retire and you start living on the savings you compiled during the accumulation phase.

The two phases are like climbing a mountain. On the way up – accumulation – your sole focus is reaching the top (the point of retirement). Once you’re standing on the peak, your focus shifts to safely reaching the bottom – the distribution phase.

Reaching the top of a mountain is worth celebrating, but if you don’t know how to get back down, you could be in big trouble.

Retirement Researcher
Retirement Researcher

Retirement Researcher 2017

Retirement Researcher

It’s important to note that retirement is not a one-time event. It encompasses the entire distribution phase.

Our team at Retirement Researcher is focused on helping people make it back down the mountain – the distribution phase in retirement. It can be the most trying, financially vulnerable time of many people’s lives due to the absence of relative stability a regular paycheck provided.

Click here to download Wade’s ebook summarizing the unique risks retirees face

The following eight guidelines serve as a kind of retirement planning philosophy for us in helping people make it safely down the mountain of retirement income:

1. Play the long game

General life expectancy numbers are useful if you’re an actuary, but you shouldn’t base your retirement income plan on them. A retirement income plan should be based on planning to live, not planning to die. A long life is expensive to support,…

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