This story originally appeared on NewRetirement.
If you’re reading this, you are likely someone who: saves money, has built up some assets, and is concerned about how to come up with a retirement benefit strategy – a plan on how to convert your assets into permanent income for life Life.
Having a solid retirement availment strategy and adhering to it is critical if you want to be able to retire comfortably and not spend time surviving your savings. Most of the financial services industry has focused on helping people accumulate, or save and invest (and their business models are built on that).
The question of how retirement income can be accumulated or claimed and generated in a tax-efficient manner is a complex topic that is attracting increasing attention. Read on for five detailed steps to decumulation – a strategy for claiming retirement.
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