I have mentioned in the past a friend/client of mine who was setting up toll booths for his retirement.
He wanted to have multiple consistent income streams in his retirement, so he did not have to worry about where the money was going from.
He had his and his wife’s Social Security as the first source.
His second was the trails form his business; he sold insurance was receiving trails. Granted he recently broke his business into two segments and then sold his business to two buyers. One picked up the variable and the other the fixed.
He used the funds to buy an annuity to replace the lost income streams.
He sold his home which was a split level and has rented an apartment with the same square footage as his home and says it is only slightly more expensive than what he was paying in property taxes annually. He invested the balance of the funds and uses those to supplement his income.
He is required to take his RMD’s so there is another income stream.
He had a plan and executed it perfectly.
Do you have a plan?