A Sustainable Withdrawal Strategy: The Basics of retirement income planning for beginners
So what exactly is retirement income? And why do you need to plan for it?
If you're investing, then retirement income is likely something that's been on your mind. After all, planning ahead for when you stop working and can no longer rely on a regular paycheck can seem daunting. But, with the right knowledge and preparation, setting yourself up to be financially secure in retirement doesn't have to be overwhelming – and is actually something quite manageable!
Retirement income is the money you receive when you stop working and can no longer rely on a regular paycheck. Planning for retirement income needs to be done ahead of time because it's not possible to make up for lost retirement savings later in life. A retirement plan should include sustainable withdrawal strategies, such as investments and retirement accounts, that provide consistent income streams during retirement.
If you're investing, then retirement income is likely something that's been on your mind. After all, planning ahead for when you stop working and can no longer rely on a regular paycheck can seem daunting. But, with the right knowledge and preparation, setting yourself up to be financially secure in retirement doesn't have to be overwhelming – and is actually something quite manageable!
Retirement income is the money you receive when you stop working and can no longer rely on a regular paycheck. Planning for retirement income needs to be done ahead of time because it's not possible to make up for lost retirement savings later in life. A retirement plan should include sustainable withdrawal strategies, such as investments and retirement accounts, that provide consistent income streams during retirement.
Kenny Meiring
This is where Kenny Meiring, from Financial Wellness Coach, can help you make a lasting difference to your future retirement income strategy.
Kenny is a Certified Financial Planner and personal finance columnist for the Daily Maverick. He comes with several decades of experience working with the largest financial institutions in South Africa. He is also one of a handful of people in South Africa to hold both Life and Pension fellowships from the Institute of Life and Pensions Advisers.
Kenny is a Certified Financial Planner and personal finance columnist for the Daily Maverick. He comes with several decades of experience working with the largest financial institutions in South Africa. He is also one of a handful of people in South Africa to hold both Life and Pension fellowships from the Institute of Life and Pensions Advisers.
Why work with kenny?
Expertise in the RSA market
Transparent ways of working
Realistic and sustainable returns
Affordable and fair fees
- Security – Retirement planning gives you peace of mind by ensuring that your financial future is secure, regardless of what life throws at you.
- Flexibility – A well-planned retirement portfolio can give you the flexibility to enjoy retirement without worrying about money or running out of funds prematurely.
- Tax Savings - Planning for retirement allows you to take advantage of tax savings opportunities which can help reduce your taxable income in retirement years, allowing more money to stay in your pocket each year!
Book a free consultation today
Now more than ever is the time to start planning for your own retirement income and attain future financial independence – if there are any questions or worries about getting started on this journey, reach out to Kenny Meiring and learn more about how you can build a secure future!