• FLM Wealth Management

How to draw income in retirement

In the third episode of the Free Like Me podcast from FLM Wealth Management, Ed Gascoigne, Chartered Financial Planner, and Sam Wilson, Financial Adviser, join host Caitlin Lambert, Senior Adviser. The topic of this episode is drawing income in retirement and the considerations you need to take into account. The Free Like Me podcast aims to help people just like you navigate the complex world of financial planning.

Caitlin starts the podcast by asking both Ed and Sam what retirement means to people these days. Both share their thoughts and explore why retirement now is so different from what it was even fifteen years ago. With people living longer lives, retirement has become a lengthy and exciting part of life rather than the shorter wind down it was previously.

As they begin to discuss options for income during retirement, the trio explore the ins and outs of what people need to understand when beginning to plan for retirement. From whether it’s best to draw from your assets tactically or regularly to what you need to know about taxation, Ed and Sam explore best practice and where speaking to an adviser can be most beneficial.

Caitlin also asks Ed and Sam to talk about how Covid-19 may have changed retirement planning and how they feel people can best respond to that.

Finally, Caitlin asks Ed and Sam to share their number one piece of advice for those looking at how to prepare themselves for retirement. While they each have additional tidbits to add to it, the overwhelming theme is that you can never start planning too soon.

If you’d like to hear more about navigating the world of financial planning and wealth management for people like you, tune in again for our next episode of the Free Like Me podcast.

Intro 0.00 - 01.23

  • What does retirement mean to people now?

  • What does drawing income in retirement look like and what are the options?

  • How the lack of education on financial planning lets people down

  • How has Covid-19 changed things?

  • Why does the historical drawdown estimate of 4% no longer make sense?

  • What is the best method of drawing income?

  • How can clients reduce tax drag on retirement income?

  • Ed and Sam’s best advice for retirement planning

Outro 35.45 - 36.17


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