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Why Guaranteed Income in Retirement Is So Important
Manage episode 356066227 series 3428540
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A steady stream of cash flow is one of the most valuable things you can have, both before and after you retire. If that income is guaranteed by some entity -- the federal government, the PBGC, or the claims-paying ability of an insurance company -- then so much the better.
Pensions and Social Security are two forms of guaranteed income that people receive usually after they've retired. They form the basis of your financial plan and help determine how much extra income (if any) your portfolio will need to provide for you. In other words, the more guaranteed income you have, the less you'll have to rely on your savings.
Why is this so important? Find out from podcast host Johnny Dean and his guest, "Professor" Rick Plum, CFP® on this week's episode of Managing Your Financial Future!
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