It’s a fact that retirees in general dislike spending down their savings. In today’s low interest rate environment, and given declining dividend yields, how should one remove money from a portfolio for income without damaging the portfolio’s integrity and longevity?
There are several possible routes to take, and unfortunately, many people may be tempted to reach for yield with either low-quality bond purchases or stocks with higher dividend yields. But doing so almost certainly will raise the risk within a portfolio without any guarantee of higher returns.
What’s a potentially better way to take income? Show host Johnny Dean and financial advisor Rick “The Professor” Plum, CFP®, discuss what Rick believes is the way to work towards your income goals without resorting to risky behaviors on this week’s episode of Managing Your Financial Future!
