The Great Chasm…That Must Be Crossed

June 6, 2022

If you are nearing retirement, or are in retirement, you are probably being brought face-to-face (maybe even daily) with your own mortality. Whether it’s mail that you are receiving from Medicare, AARP, or a local funeral home, we realize we are on the proverbial “back nine “of life. It’s amazing how quickly we have arrived at this point, isn’t it??

The other emotional hurdle that you will be confronted with, is what to do with your brokerage accounts, 401(k) plan, and IRA’s.

For years, you have been in the ACCUMULATION mode, where the focus has been on rate of return, setting as much money as possible aside, and then growing that money. But now that you are on the doorstep of retirement, you are looking out across the great chasm called DISTRIBUTION, and maybe for the first time in your life, you’re scared!!

It’s hard to break old habits, and in this case, it’s breaking the mindset of accumulating assets, and embracing the mindset of distributing those assets. Creating a cash flow, you will never outlive. “But I want my cake and eat it, too!” “I want to continue to grow my money AND create an income stream as well!”

If you plan correctly, you can have both. And that chasm, suddenly, is not as wide and deep as you had initially thought.

Knowing your options, and getting the best advice, will help you traverse that chasm safely and without regret.