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Methods To Get a Paycheck In Retirement

November 28, 2018

One of the most difficult adjustments for us when leaving an employer is replacing a pay check. For decades we save into retirement and non-retirement accounts accumulating the money we will live on once we stop working.

Psychologically though, many feel unsettled by not getting the automatic deposit that represents our payment for work rendered.

We find re-creating what seems like a pay check goes a long way to minimizing the adjustment. We transfer payments monthly, semi-monthly, quarterly (whatever works for you) to cover your necessary expenses. This money in your portfolio is allocated to cover several years of withdrawals. It may be invested in cash, money market and/or very short-term bonds to alleviate fluctuations in the stock market.

Social Security Pay check – We usually recommend waiting until age 70. Once started, this also creates monthly income.

Bonus – if your portfolios perform well above and beyond the distribution – take a “bonus” for that special trip.

Cash – still maintain your emergency fund for those unexpected expenses

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