The Reason this is important.
The 20 – 40 years of retirement should not be done without some concept of how your income will be created.
Problems of overspending in the early years may create a shortfall in the later years as the spending needs increase.
Without income
Nothing happens
Planning for a Protected, lifetime income is essential.
We presume that one will have a need for Long Term Care which is very expensive. 70% of persons over the age of 65 will need some level of LTC. That fact cannot be ignored. That expense is for the one needing the care. Not the well spouse at home. LTC is the worst case scenario, but it needs to be planned for, BUT hoping it’s never needed.
Not knowing your longevity, we plan for a long life. Then ensure that your estate is passed the way you want.