Feb 8, 2023
Ever wonder what a $2 million retirement actually looks like behind the scenes? In this episode Grant covers five case studies that were recently published in a Wall Street Journal article. We review distribution rates, contentment, Social Security decisions, taxes, and each couples' biggest financial concern after giving up their income stream permanently.
[04.10] John’s case – Starting the conversation, Grant goes through the first case mentioned in The Wall Street Journal about 2 million retirement savings, a retired police officer named John.
[10.00] The guardrails approach – Grant defines the guardrails approach and how it works.
[16.38] Taking from retirement accounts – Grant shares the risk of pulling money out from your retirement account if you don’t have any other source of income.
[20.06] Vision – Grant points out the lack of clear vision in the cases he discussed in The Wall Street Journal.
[28.33] Variable distribution rates – Distribution rate is relevant and important, and it will always change, says Grant.
Resources:
Here’s What a $2 Million Retirement Looks Like in America –
wsj.com/articles/heres-what-a-2-million-retirement-looks-like-in-america-11661702455
Use the Guardrails Approach to Avoid Running Out of Money in Retirement –