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Ease the squeeze on your retirement income plan
Inflation has slowed, but many retirees still feel the effects of higher costs, especially for essentials like health care, utilities and insurance. They can tighten your income plan and make you wonder whether it can keep up over time. What matters is how you respond and you have options. Start with your withdrawal strategy. Consider a flexible approach for investment withdrawals that can adjust based on how your portfolio is performing. It helps manage rising prices without jeopardizing long term plans.
Next, look at your investments. Rebalancing your portfolio even slightly may help steady your income or improve tax efficiency.
You can also strengthen your income base by delaying Social Security or leaning on your health savings account. Consider adding inflation protected bonds or using fixed-rate annuities for predictable lifetime income – if either fits your situation. Finally, make sure you account for rising health care premiums and out of pocket costs now so they don’t catch you off guard later. A financial advisor can help you build flexibility into your plan to feel confident even when costs keep rising.
Matthew Besier, your Edward Jones financial advisor
At 179 East Beck Street
This article was written by Edward Joes for use by
Matthew Besier your local Edward Jones Financial Advisor
Member SPIC
https://www.LinkedIn/In/MatthewBesier-AAMS https://www.Facebook.com/EJAdvisorMatthewBesier
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