Do you have an income plan as part of your retirement picture?

In youth, “Cash is king.” In retirement, “INCOME is king!”

Financial advisor Brandon Bowen spends his days hammering this idea into the heads of pre-retirees and retirees.  You must have an income plan in place, and it cannot be dependent on the market… Financial advisor Angela Sloan, reiterates this idea highlighting how the market is where you go for growth but is not a good income plan because you never know what it’s going to give you.

On this episode of Charleston’s Retirement Coach, Brandon shares ideas on building many sources of income with pensions, annuities, social security, retirement savings, rental properties, and other options through the real-life stories of his own clients and their experiences using a variety of tools.

If Social Security is your only source of protected income, you may need to find other ways to create a ROCK-SOLID income plan. It is up to you as to how safe you want it to be and every option has pros and cons, which is why you need to have many “buckets” utilizing different tools and placing a portion of your savings into each bucket. Purpose determines placement.

Ready to build your Retirement Income Plan? Connect with Brandon and his team at Bowen Wealth.

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