DIY Retirement Hacks https://diyretirementhacks.com Empower Your Retirement Mon, 15 Mar 2021 19:13:52 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.3 https://diyretirementhacks.com/wp-content/uploads/2020/11/logoBest-1-150x150.jpg DIY Retirement Hacks https://diyretirementhacks.com 32 32 Purpose in Retirement https://diyretirementhacks.com/purpose-in-retirement/?utm_source=rss&utm_medium=rss&utm_campaign=purpose-in-retirement https://diyretirementhacks.com/purpose-in-retirement/#comments Tue, 16 Mar 2021 08:03:59 +0000 https://diyretirementhacks.com/?p=138 Purpose in Retirement   While I focus almost exclusively on the financial aspects of retirement, we all know there is much more to retirement than money! In fact, once money is out of the way, it is an insignificant part of retirement. There is a stark dichotomy present: either you have oversaved (which doesn’t mean you don’t worry or think about finances anymore), or you haven’t. If you haven’t oversaved, you might be constrained in your resources,…

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]]> https://diyretirementhacks.com/purpose-in-retirement/feed/ 2 What are the Risks in Retirement? https://diyretirementhacks.com/what-are-the-risks-in-retirement/?utm_source=rss&utm_medium=rss&utm_campaign=what-are-the-risks-in-retirement https://diyretirementhacks.com/what-are-the-risks-in-retirement/#respond Tue, 22 Dec 2020 08:12:50 +0000 https://diyretirementhacks.com/?p=130 Risks in Retirement     Retirement is not the time to start living, but it certainly isn’t the time to start dying either! Once you have purpose nailed—what you are retiring to?—it is time to consider some of the risks in retirement. Remember, accumulating assets is easy compared to figuring out how to spend them! Well, nothing is easy in the financial world. It doesn’t pay wall street to make it easy, so one must always watch…

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]]> https://diyretirementhacks.com/what-are-the-risks-in-retirement/feed/ 0 What are the Withdrawal Strategies in Retirement? https://diyretirementhacks.com/what-are-the-withdrawal-strategies-in-retirement/?utm_source=rss&utm_medium=rss&utm_campaign=what-are-the-withdrawal-strategies-in-retirement https://diyretirementhacks.com/what-are-the-withdrawal-strategies-in-retirement/#comments Wed, 16 Dec 2020 07:02:43 +0000 https://diyretirementhacks.com/?p=126 Retirement Withdrawal Strategies   Retirement Withdrawal Strategies: turn your assets into income while mitigating known risks. Notice there are two components to this strategy. First, create income. Second, mitigate risks. You get income from your assets, and you control risk with your product allocation. What is product allocation? We shall see!   How To Start Your Retirement Withdrawal Strategy? Where to begin? If you are using professional planning software, a Monte Carlo simulation and the 4% rule…

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]]> https://diyretirementhacks.com/what-are-the-withdrawal-strategies-in-retirement/feed/ 1 How to Create Retirement Income https://diyretirementhacks.com/how-to-create-retirement-income/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-create-retirement-income https://diyretirementhacks.com/how-to-create-retirement-income/#comments Wed, 09 Dec 2020 10:59:04 +0000 https://diyretirementhacks.com/?p=122 Where do you get your Income in Retirement?   Now that we understand a little better what expenses are going to be in retirement, how do you replace your paycheck and pay for all of those expenses? And where does that income come from? Retirement planning is sometimes called retirement income planning, because retirement is all about turning assets into income. The goal is to get money into your checking account automatically once or twice a month,…

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]]> https://diyretirementhacks.com/how-to-create-retirement-income/feed/ 1 How Much Can I Spend in Retirement? https://diyretirementhacks.com/how-much-can-i-spend-in-retirement/?utm_source=rss&utm_medium=rss&utm_campaign=how-much-can-i-spend-in-retirement https://diyretirementhacks.com/how-much-can-i-spend-in-retirement/#comments Thu, 03 Dec 2020 16:36:50 +0000 https://diyretirementhacks.com/?p=109 How Much Can I Spend in Retirement?   Let’s take a break from taxes for a moment and talk about something fun… spending money! How much can I spend in retirement? Taxes are often a retiree’s largest expense, but this expense is tied to how much money you need to live on in retirement. That is, the more you spend, the more you will own in taxes. In general. After all, retirement is all about converting your…

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]]> https://diyretirementhacks.com/how-much-can-i-spend-in-retirement/feed/ 2 How to Minimize Taxes in Retirement https://diyretirementhacks.com/how-to-minimize-taxes-in-retirement/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-minimize-taxes-in-retirement https://diyretirementhacks.com/how-to-minimize-taxes-in-retirement/#comments Mon, 30 Nov 2020 20:32:51 +0000 https://diyretirementhacks.com/?p=100 How to Minimize Taxes in Retirement   Saving money in retirement means that we need to consider taxes. Unfortunate as it is, taxes are not infrequently a retiree’s largest expense. How do you minimize taxes in retirement? Remember the name of the game is to pay the least in taxes over your whole life. Saving on taxes in this calendar year pales in comparison to saving your heirs hundreds of thousands of dollars. So actually, the name…

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