We found an article recently from AARP that might interest you. It referenced a “safety-first” approach, which is something we have always believed in. The idea is to cover all of your essential expenses with guaranteed sources of income, meaning sources like Social Security, pensions, and annuities that pay you an income you can’t outlive.
If you’re married, your essential expenses should cover not only yourself, but also your spouse as well. Call us if you’d like to review your expenses and your sources of income to see if they’re measuring up to what your needs are. We’re always here to help and may have some ideas to further boost your income in retirement if it is falling short.