Saving for retirement and spending in retirement are two different disciplines. Here is how to build income that lasts as long as you do.
For decades the goal is simple: save more. The day you retire, the question flips — how do you turn a balance into a reliable paycheck for twenty or thirty years?
Start with your essential expenses
List what must be paid no matter what: housing, food, insurance, healthcare. Those costs deserve a protected income floor that does not depend on how markets perform in any given year.
Sequence your withdrawals
Which account you draw from first — taxable, tax-deferred or tax-free — changes how much tax you pay over your lifetime. A written withdrawal order keeps decisions deliberate instead of reactive.
Plan for a long life
Many retirements now last thirty years or more. Stress-testing your plan against a long life and a poor first few years in the market shows whether the income truly holds.
This article is for educational purposes only and is not tax, legal or investment advice. Speak with a licensed professional about your own situation.
