S2E6: Don’t Outlive Your Money: How to Plan Retirement Income That Lasts
In this episode of The Road Rules for Retirement Show, host Mark Fried shares expert strategies to help you shift from saving money to generating reliable income in retirement—a critical transition that many retirees overlook. Without a clear income plan, even a well-funded retirement portfolio can fall short.
Mark kicks off the conversation by introducing the Two-Bucket Expense Strategy, a powerful budgeting method that helps retirees categorize essential vs. lifestyle expenses. He then tackles two of the most underestimated retirement risks: inflation and rising taxes, and explains how they can erode your purchasing power over time if left unaddressed.
Listeners will learn how to calculate their monthly retirement income needs using a simple yet effective formula, and how to make that income last for decades. Mark also breaks down the complexities of Social Security planning, offering tips to avoid common mistakes and strategies to maximize your benefits.
Throughout the episode, Mark emphasizes the need for a written income plan—not just scattered accounts and statements—and dives into why risk management is more important than ever in the retirement years. He unpacks the Three Investment Worlds, explaining the trade-offs between liquidity, safety, and return, and provides guidance on how to strike the right balance for long-term success.
Plus, discover the importance of diversification beyond the market, including tax diversification and income stream variety, to create a more resilient financial future.
Finally, don’t miss the exclusive listener offer: access Mark’s Retirement Income Masterclass—a five-module course designed to help you build your own written plan—for just $99.
Whether you’re already retired or preparing to leave the workforce, this episode is packed with actionable advice to help you build a more confident, income-secure future.
Special Offer:
Ready to take control of your retirement? Enroll in Mark Fried’s Retirement Masterclass to build your own customized financial roadmap. Visit WhenCanIRetire.us and use coupon code RRFR2024 for a special discount.
Why Listen?
If you’re nearing retirement or already retired, this episode offers actionable advice to help you protect your savings, manage taxes, and ensure your money lasts. Tune in now and start building the retirement plan you deserve!