While it’s nice to get a steady W-2 paycheck or pay ourselves (as business owners), we need to change our perspective before we head into retirement. When it comes to generating income, it’s a good idea to go from relying on one income stream to many. Essentially, you’re creating as many tributaries as possible to come together in one new, predictable larger stream. Put another way, money is a river while you’re working and a reservoir once you retire.
You likely already have ideas about where you can gain other income sources. This could include income from multiple pensions, social security, rental income, part-time work, or investment income all rolled into one large stream. For those who have inherited or accumulated a level of wealth that affords the ability to retire from work, no matter how young that person may be, WEALTH VISION ADVISORS LLC® can assist in crafting a portfolio of tax-efficient assets designed to create a secure and reliable lifetime stream of income.