![3317: [Part 1] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick on Retirement Planning Basics](https://megaphone.imgix.net/podcasts/e2805642-a41d-11f0-ac00-3bbdf6340ce9/image/4dd84fd1c1a0f07e998eb054957b951f.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress)
3317: [Part 1] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick on Retirement Planning Basics
Darrow Kirkpatrick explores the two dominant schools of retirement income planning
Optimal Finance Daily - Financial Independence and Money Advice · Optimal Living Daily | Diania Merriam
Audio is streamed directly from the publisher (traffic.megaphone.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3317:
Darrow Kirkpatrick explores the two dominant schools of retirement income planning: probability-based strategies, which rely on investment growth and withdrawal methods, and safety-first approaches, which prioritize guaranteed income through annuities or bonds. He highlights the strengths and pitfalls of each, noting that the most practical solution for many retirees is often a thoughtful combination of both philosophies.
Read along with the original article(s) here: https://www.caniretireyet.com/are-you-feeling-lucky-the-two-schools-of-retirement-income/
Quotes to ponder:
"In the safety-first philosophy, you, or a financial planner, match guaranteed income to essential expenses."
"A failure probability in the neighborhood of 10% is often considered acceptable. That’s one chance in ten."
"Failure is defined as running out of money before running out of life."
Episode references:
Michael Kitces: https://www.kitces.com/
Learn more about your ad choices. Visit megaphone.fm/adchoices