Few financial issues are more important to retirees, especially after a decade-long run up in stock prices.
Most investors don't realize that luck often plays a central role in determining how much income a retiree can generate from his or her savings.
“I want retirees to understand that the month yu choose to retire can make a million dollar difference."
The problem is two-fold. First, retirees often do not have an investing strategy suited to generating stable retirement income. Second, without knowing how much they can safely spend each month, retirees can enter a downward financial spiral that leads to their income to running out while they are still alive. To help mitigate these risks, I developed a retirement income solution called The Income for Life Model. It helps retirees manage risks, including Timing Risk. There's a two-minute video on this critical issue, and I urge you to watch it. Visit my book site, click Timing Risk and watch Learn About Timing Risk.