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  • Kiplinger

    Solving the Income Challenge

    by Amy Richardson, CFP® Feb 15, 2022 5 minutes

    For many people, one of the most daunting financial challenges in life is figuring out how to pivot into retirement. It’s quite a leap to move from making a regular paycheck to being responsible for generating your own stream of income and regulating how to spend down your savings. 

    A recent Schwab study found that nearly three out of four people (72%) within five years of retirement are worried they’ll outlive their savings, and nearly six in 10 (57%) feel overwhelmed about determining how much they can spend in retirement.

    This uncertainty can be paralyzing. The average retiree still has 80% of their savings after 20 years of retirement, . In one way that shows impressive discipline. In another it could show that fear is driving decision-making during a period of life when people should be enjoying

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