Understanding the Benefits of Risk Pooling and Longevity Credits

Navigating an Abundant Retirement with Carol Dewey

Welcome back to Navigating an Abundant Retirement Radio. This week, Carol shifts the discussion regarding the Map to Economic Independence to the Distribution Dilemma. Her discussions regarding economic independence are where we have enough recurring revenue, also known as cash flow, to cover our basic expenses. So far, her discussions have revolved around the accumulation phase before retirement.

In this episode, Carol answers the question of how you can draw down and distribute your retirement savings once the bell sounds and your career is over will determine whether or not you run out of money.

The distribution dilemma and the various risks to your nest egg once you retire are the focus of today’s discussion.

Enjoy!

In This Episode

1:14 - Saving for retirement is actually the easy part.

2:36 - Fixating more on Wealth Accumulation

3:36 - Distributing assets

4:07 - Certificate of Depreciation

4:44 - Figuring out the right accumulation and distribution strategies for your retirement

5:09 - People are living longer than ever before

8:00 - Longevity Credits?

12:54 - Deflation may be the biggest risk in the short term

15:26 - June is annuity awareness month

15:40 - Boomer Movie

The life insurance industry was built for markets like the one we are facing now – life insurance and annuities can be the solution to many of today’s personal finance dilemmas, as these products are based on math and science.

Bonus

Get exclusive access to the “Baby Boomer Dilemma” and follow this LINK to get your promo code and get access to a streaming version of the movie so you can watch it on any of your devices.

Favorite Quotes

2:09 - “The sooner you can start putting money away, the better.. ” - Carol Dewey

3:11 - “ Even if you save up your goal of $1 million or $5 million or whatever amount you decide, you could still squander it all away in poor investments or by withdrawing it too quickly.” - Carol Dewey

3:31 - “Distributing assets in a way that ensures you get the most out of your retirement without running out of money is a difficult balancing act and should be taken even more seriously than accumulation“ - Carol Dewey

4:57 - “The longer you live, the more likely you'll withdraw too much. The longer you live, the more likely you'll see inflation. The longer you live, the more likely you'll need long-term care.” - Carol Dewey

12:26 - “The riskiest time to invest is right before or right after retirement.” - Carol Dewey

14:10 - “Social Security is simply a guaranteed paycheck for life.” - Carol Dewey

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