SLRC - Yes You Can Retire On Dividends: 2 Great Picks To Buy

2024-01-30 07:15:00 ET

Summary

• In retirement planning, it's not about the size of your nest egg. It's about ensuring your budget doesn't suffer from "shrinkage" in the long run.
• The Income Method is designed with core principles to ensure you don’t outlive your savings.
• We discuss two discounted CEFs with large payouts for a sustainable retirement - yields up to 10.6%.

Co-authored with "Hidden Opportunities"

When it comes to retirement advice, it's always assumed that one is well prepared if they have a large nest egg. The truth is that one's lifestyle and financial literacy have a more significant influence on preparedness than savings. Someone could have millions and still burn through it all in a few years. According to a recent survey conducted by Bloomberg , 25% of respondents from the top 10% of tax filers in the country (income greater than $175,000 per annum) said that they were "very poor" or "getting by, but things are tight."

How large of a nest egg do you need to fund your retirement? It depends. How long are you going to live? How much will the stock market return over those years? The market has had some great decades and some decades where it had no gains at all. There are a lot of unknowns, and you won't be able to predict everything. However, your retirement strategy must take into account a variety of potential outcomes....

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