2836: Why You Need Multiple Sources of Retirement Income by Darrow Kirkpatrick of Can I Retire Yet
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\nEpisode 2836:\nGenerating income from multiple sources in retirement, much like packing for unpredictable weather, ensures stability and security against financial risks. Darrow Kirkpatrick highlights how a diverse portfolio that includes stocks, annuities, and Social Security can protect against longevity risk, inflation, market fluctuations, and solvency issues, providing a balanced and resilient retirement plan.\nRead along with the original article(s) here: https://www.caniretireyet.com/why-you-need-multiple-sources-of-retirement-income/\nQuotes to ponder:\n"Some types of retirement income are good for a lifetime, but lock you into a set cash flow. Some protect against the menace of inflation, but cost more up front."\n"The only way to obtain true security in a modern retirement is to generate income from multiple sources which, taken together, protect you from the range of financial risks."\n"Wealth building is about transparency and simplicity. Spend less than you make, grow the savings, and don\u2019t lose it."\nEpisode references:\nAnnual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds: https://www.ssa.gov/OACT/TR/\nLearn more about your ad choices. Visit megaphone.fm/adchoices