Retirement Planning With 'Buckets' Of Money
By Aaron Katsman: As more and more baby boomers hit retirement age, and with interest rates at record-low levels, the question is how retirees can generate the income they need to meet their expenses. I’d like to focus on a popular strategy used by financial advisers: the bucket strategy. This strategy became mainstreamed after the book Buckets of Money: The UltimateGuide to Income for Life by Ray Lucia became a best-seller. This is not a review of the book. I liked the book and have used a variation of the strategy for my clients for many years. My only issue with Lucia – and reader beware – is that he uses certain investments (annuities and non-traded REITs) that pay huge fees to advisers and are probably not in the best interest of the client. Conventional Wisdom Common financial-planning wisdom says that in order to generate your desired retirement income you need to withdrawComplete Story »
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