What are the pros and cons of the traditional retirement income method?

Questions & Answers | 0 comments

Now that everyone is living longer, methods for retirement have gone through some significant changes. Wealth Management expert Michael Meskin explains what the current trends are in the United States. Retirement is no longer a certain occurrence but rather it is now a period or stage in one’s life with many different options for how to deal with the financial aspects of the transition.

An individual’s retirement goal is to guarantee a steady income during their post-working years. To accomplish this goal, individuals are often advised to invest in diverse assets that generate enough cash flow to cover expenses. For many, this typically includes an employer-sponsored pension, Social Security, and withdrawals from savings. The traditional retirement income method can be defined as a combination of an employer-sponsored pension, Social Security, and withdrawals from savings.

In the retirement age, those who have been working for a living can consider generating retirement income from a variety of sources. For those who want a steady, reliable source of income, a traditional retirement income method might be a good fit, but there are a number of pros and cons to consider before making this decision.

Don't Miss this Opportunity

Retirement planning is for you and your family. Even if you’re approaching retirement later in life, it is never too early to start planning for your golden years. Take a look at how your finances are aligned with your goals and the steps you’re taking today to establish a comfortable future for yourself and your family.
Show Buttons
Hide Buttons