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Your decumulation phase of retirement marks the transition from an income-earning career to a life without a steady paycheck, and it can feel unsettling. This anxiety is not only rooted in financial concerns, but also in the feeling of disempowerment; that you might have less financial flexibility.READ THE ARTICLE
However, the reality is that you do have the power to create a confident retirement, and here are several strategies to do so:
📌 Phase into retirement: Consider gradually reducing work hours or contributions to retirement accounts. Delaying Social Security benefits can also provide more fixed income.
📌 Never stop "working": Engage in activities or part-time work that align with your values and passions, even if it pays less. Setting and pursuing meaningful goals in retirement can help you maintain a sense of purpose.
📌 Build an investment portfolio designed for retirement: Instead of relying on a single, generic withdrawal rate, tailor your investment portfolio to your specific retirement goals (i.e: The Retire With Purpose™ framework).
Your retirement should be a purposeful and fulfilling phase of life, not one to be feared. By taking on an intentional approach to your retirement strategy, you’re more likely to build a Job Optional life and to gain the financial confidence you deserve.