RETIREMENT INCOME: What investors are saying

“The scariest thing about retirement is when you stop getting the paycheck, and you start spending your savings … because you go from being in control with a paycheck to a fixed income.”

“In retirement, I still want to be able to afford some of the toys, the expensive toys, of life — a new car if you want it, maybe a remodeled kitchen so we can really get into cooking, and an active lifestyle.”

“If you’re just going to live on your assets, and you don’t know how long you’re going to live, that’s when you really need a good adviser. That’s what you need an adviser for — how to stretch it, how to invest it,
what do you have to spend, what do you have to save … That’s when you get down
to the nitty-gritty.”
“I think that is the most difficult question that there is. How long are you going to live? And are you going to have enough money to live on in a decent, affordable lifestyle?”

“This is part of the worry, about how you manage your assets in retirement. There’s a lot written about it, to use the tax-deferred accounts last, if you can do it. There may be options to convert them to a Roth IRA. There are all kinds of options out there, but no clear answers.”

“It seems like we maybe could have had some more help with financial planning when we were younger.”

“Upon retirement, you get all these funds. I know some things, but I don’t think I know enough that I would try and guide myself through all that without some professional advice.”

“I have a defined contribution plan, and there are assets in the plan. In order to get income from the plan, certain assets have to be sold. I would want financial advice from somebody as to the tax ramifications on which assets to draw from. The same is true for my IRA.”