Can You Build a Retirement Income Plan With Both Risk and Reliability?

Two strategies for making retirement savings last — probability-based income planning and guaranteed income planning — can help ensure you have what you need in your golden years, but which is right for you?

A couple thinks hard about their options when it comes to probability-based income planning vs. guaranteed income planning.
(Image credit: Getty Images)

Two very different strategies can help retirees’ retirement savings last their lifetime, and the one that works for you, or even a hybrid plan, may depend on your tolerance for risk. Let’s look at probability-based income planning vs. guaranteed income planning.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Scott M. Dougan, RFC, Investment Adviser
President & Founder, Elevated Retirement Group

Scott M. Dougan is the president and founder of Elevated Retirement Group. His primary focus is on retirement planning, wealth preservation and estate planning, and he has helped hundreds of clients prepare for retirement through his proprietary planning process. Dougan is a Registered Financial Consultant (RFC®), an Investment Adviser Representative and a licensed insurance agent.