Will You Run Out of Money in Retirement? The Right Income Plan Can Help

You may have heard of the 4% Rule, used to determine how much you can safely pull from your portfolio to fund your retirement. But here are three other income plan strategies that might be better for you.

A man chases a dollar sign.
(Image credit: Getty Images)

One of the most persistent analogies I have heard in my career as a financial adviser is the story of climbing and descending Mount Everest. As the story goes, more climbers perish on the way down the mountain than do climbing up it. We then equate our clients’ wealth journey with that of climbing Mount Everest – spending lots of time and effort to get to the summit of peak financial wealth (i.e., retirement) only to be left with the question, “How am I to descend the mountain safely?”

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Brian G. Blackwell, CFP®, ChFC®, AIF®
Director of Financial Planning, Spotlight Asset Group

As Director of Financial Planning at Spotlight, Brian Blackwell is responsible for the company’s financial planning and advice program. He focuses on enhancing our clients’ experience through the development of complex plans and strategies to improve their overall financial well-being. Brian holds the Chartered Financial Consultant designation from the American College, is a CERTIFIED FINANCIAL PLANNER™ professional and has over a decade of experience advising high-net-worth households.