Volume 4

Retiring With $1 Million or More

Questions to Ask Before You Start Taking Income

Book Description

Reaching $1 million or more in accumulated assets is an important financial milestone, but it does not automatically answer one of retirement's biggest questions: How do you turn accumulated wealth into income without losing sight of taxes, market risk, liquidity, protection, longevity, and legacy?

Retiring With $1 Million or More: Questions to Ask Before You Start Taking Income is designed to help affluent families think differently about the transition from building wealth to using it. During the accumulation years, the objective is often to save, invest, and grow assets. Retirement changes the assignment. The household must now determine how much income it needs, where that income should come from, how withdrawals may interact with taxes, how much liquidity should remain available, and how the plan should respond when markets or family circumstances change.

This Green Life Financial Group guide helps readers examine important retirement considerations including:

• Determining retirement spending needs

• Identifying dependable income sources

• Understanding the retirement income gap

• Coordinating different account types

• Considering withdrawal sequencing

• Preparing for market declines and sequence risk

• Maintaining appropriate liquidity

• Understanding tax considerations surrounding retirement income

• Evaluating guaranteed income options

• Preparing for health and long-term care-related expenses

• Protecting a surviving spouse

• Coordinating retirement income with legacy objectives

The guide also challenges an assumption that can become dangerous in retirement: Portfolio value and retirement income are not the same thing.

A household can have substantial assets and still lack a coordinated strategy for converting those assets into sustainable cash flow. The purpose of this ebook is not to prescribe a universal withdrawal formula or promise a particular retirement outcome. It is to help families understand the questions that should be answered before significant retirement income decisions are made.

Because accumulating your first million and living from your million are two different assignments.

You worked hard to build your wealth. Now it is time to understand how that wealth may need to work for you.

Turn your wealth into income. Plan with confidence. Protect your lifestyle. Preserve your legacy.

Green Life Financial Group

Building Wealth and Insuring Life

glfingroup.com

This ebook is provided for educational purposes and does not constitute individualized investment, tax, accounting, insurance, or legal advice. Investments involve risk, and retirement strategies should be evaluated according to individual circumstances.