Hatching A Plan For A Golden Retirement

3 baskets for retirement

What basket are your eggs in? If you are planning on retiring, this one’s for you. As you focus on retirement, think about retiring to something, not retiring from something.

Put Your Eggs in 3 Baskets for Retirement

  1. Cash Basket - Savings Account/CD This basket is for short-term needs — for the unplanned expenses, which often feel like they hit at the worst times. At a minimum, it’s prudent to have three to six months of living expenses available in case of emergencies

  2. Income Basket - The income basket is where you want to have guaranteed, stable income when you’re no longer drawing a paycheck. It is important to have clear goals in place when setting up your income basket. I had grandparents who retired and traveled the world. I also had a grandparent who worked part-time to get out of the house.

  3. Growth Basket - Once you have figured out what you are going to need to live out your retirement, you can focus on getting a higher rate of return on the remaining funds. When you know your income is taken care of, you can afford to take a risk with some assets.

As you envision your retirement, let it be a time of joy and fulfillment. Retirement means doing what you have fun doing. So, consider these baskets not just as financial strategies but as tools to support the lifestyle you desire.

Take charge of your retirement and build a future that you'll truly enjoy. Your golden years await – what adventures will you fill them with?

Click here for more information about planning during your golden years. 

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