The financial planning of the 1970s, ’80s and even the ’90s may have worked in the past, but it has become sadly out-of-date and no longer relevant. Unlike earlier generations, you can no longer depend on pensions, Social Security or the market … institutions we’ve all come to rely on for retirement income. With people living longer, you need to get back to basics.
Accumulating a lump sum of money and hoping it’s enough to last your lifetime shouldn’t be your end game. What you should be creating is a substantial source of monthly income to fund a high retirement income stability ratio, which will guarantee income for the rest of your life.
