Are we really looking for a “dream” retirement? With the realities of today’s economic environment, most families tell me they just want to be comfortable. Yes, you still may be able to fulfill some of your dreams, but outliving your assets is what we really need to guard against.
In describing retirement, we prefer to use the word “liberation”. You separate from the 9 to 5 and enter the next phase of your life. Whether it is travel, spending time with family, embarking on a new career or donating your time and skills to a worthwhile cause, having financial confidence is the challenge facing every retiree. So you need a plan for a lifetime of income. Having enough assets in retirement is important, but more important is the income that the assets produce.