Retirement is supposed to be a reward, an opportunity to do whatever you want, whenever you want — within reason, of course. Sleeping in, booking trips, or finally trying the hobbies, no matter how esoteric or mundane, you’ve been meaning to try. Birding? Sounds great. Baking? Delicious. You can try these without worrying about interfering with your work schedule, meaning they can, if you so desire, become your entire personality.
Though work is finally a thing of the past for you, money questions don’t magically disappear once your commute does. Nearly half of retirees — 45% to be exact — risk running out of savings, and that’s counting those who invested carefully and diversified their portfolios. The good news? You don’t need a job to keep making money. With the right income streams, your nest egg can keep generating cash while you focus on living your life — and learning to bake county-fair-quality pies.
Like pie, those streams come in many flavors: Dividend-paying stocks deliver regular cash payments. Bonds hand you coupons you can actually spend. Combining a few approaches yields a mix of growth and stability, which means it’s wise to explore more than just stocks and bonds. There are real estate investment trusts (REITs), master limited partnerships (MLPs), annuities, and countless others — each with unique trade-offs in terms of yield, taxes, and liquidity.
Unsure where to start? That’s totally fair. It’s a lot to learn, but when understood and used together, they can make your savings stretch so much further.
Fisher Investments’ free resource, The Definitive Guide to Retirement Income, explains how seven popular strategies work and how to choose the right ones for your goals. That said, planning requires more than simply weighing the pros and cons of income streams. Their helpful guide also shows you how to prevent inflation from eroding your purchasing power and adjust your portfolio as your priorities shift, ensuring you meet your goals.
Request the Definitive Guide to Retirement Income today.
