Preparing for retirement can be stressful, but it doesn’t need to be. One step in ensuring you have accurate funding in your retirement is understanding the difference between retirement savings and retirement income.
Saving for retirement is what you’ve been doing most of your working life. Retirement planning doesn’t involve simply turning those savings into the retirement income you need, but involves having a plan for where and when to take that income from so as to get the most out of your assets and, therefore, minimize the effects of taxation.
Such a creatively crafted retirement plan creates security and longevity, allowing you to enjoy retirement as you’ve been picturing for years.