You probably know what your 401(k), IRA and home are worth. But do you know your retirement income gap? It's the difference between what your lifestyle costs and the income you can count on every month, and for most Americans it's a gap that has to be planned for.

In this episode of the show, host Dave Hall explains why Social Security was only designed to cover about 40% of your retirement lifestyle, and how pensions, annuities, bond ladders and your portfolio can help close the difference.

In this episode:
• Why a $1 million IRA isn't $1 million in spending money once taxes come out
• How capital gains, IRMAA and taxes on Social Security affect your income
• What a 20% market drop does to your withdrawal rate
• Social Security at 62 vs. 70: a 76% difference, and the $111,000 the average person loses by claiming at the wrong time
• Pension payout choices and protecting a spouse
• Why your income gap shrinks once Social Security or a pension starts
• The 75–90% guaranteed income guideline
• Why you shouldn't be afraid to turn savings into income
• How much liquidity you may need in retirement

Get Dave's books, webinars and free retirement planning resources at retirementriskadvisors.com.

Investment advisory services offered through AlphaStar Capital Management, LLC, an SEC registered investment advisor. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Retirement Risk Advisors, and AlphaStar Capital Management is not involved with the offer, recommendation, sale or management of commission-based fixed insurance products. AlphaStar Capital Management and Retirement Risk Advisors are separate and independent entities. This is for informational purposes only and is not intended as legal, tax or investment advice or a recommendation of any particular security, investment product or investment strategy.

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Many retirees keep managing their portfolio the way they did while saving. In retirement, though, you’re spending your money, not adding to it. In this episode of The Retirement Risk Show, host Dave Hall explains how to move from an asset-based portfolio to a purpose-driven portfolio, where each part of your money has a specific job.

Dave covers the difference between risk tolerance and risk capacity, and why a 60/40 portfolio can leave you selling in a down market. He then goes through the five purposes a retirement portfolio should serve:

Income: Social Security, pensions and guaranteed income
Reserves: 12 months of cash plus a 2–5 year bucket to guard against sequence of return risk
Protection: long-term care and legacy planning
Growth: money for later in retirement
Legacy: Roth accounts that pass to heirs tax-free

He also discusses tax coordination, Roth conversions, and what a planner adds beyond picking investments.

Learn more at retirementriskadvisors.com.

Investment advisory services offered through AlphaStar Capital Management, LLC, an SEC registered investment advisor. SEC registration does not constitute an endorsement of the firm by the SEC, nor does it indicate the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Retirement Risk Advisors, and AlphaStar Capital Management is not involved with the offer, recommendation, sale, or management of commission-based fixed insurance products. AlphaStar Capital Management and Retirement Risk Advisors are separate and independent entities. This is for informational purposes only and is not intended as legal, tax, or investment advice or a recommendation of any particular security, investment product, or investment strategy.

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Follow us on Instagram: @retirementriskadvisors
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Who will take care of you if you can’t take care of yourself in retirement? Most people say their spouse or their kids. In reality, only about 12% of spouses and 17% of children end up providing long-term care.

On this episode of The Retirement Risk Show, host Dave Hall explains one of the most expensive and least-planned-for risks retirees face: long-term care. You’ll learn how a long-term care event is defined (being unable to do 2 of the 6 Activities of Daily Living), what Medicare and Medicaid actually cover, and what happens to a surviving spouse’s finances when Medicaid becomes the plan.

Dave also compares the main ways to pay for care: self-insuring, traditional long-term care insurance, hybrid life/long-term care policies, and Life Insurance Retirement Plans (LIRPs). He includes real stories, such as a client whose premiums climbed to $37,000 a year, and explains why he plans to use a mix of approaches himself.

Learn more, access free webinars, or schedule a no-fee consultation at retirementriskadvisors.com.

Investment advisory services offered through AlphaStar Capital Management, LLC, an SEC registered investment advisor. SEC registration does not constitute an endorsement of the firm by the SEC, nor does it indicate the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Retirement Risk Advisors, and AlphaStar Capital Management is not involved with the offer, recommendation, sale, or management of commission-based fixed insurance products. AlphaStar Capital Management and Retirement Risk Advisors are separate and independent entities. This is for informational purposes only and is not intended as legal, tax, or investment advice or a recommendation of any particular security, investment product, or investment strategy.

Support the show

Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors