Basic Retirement Income Options
Dividend paying Stocks? SS? Pensions? Annuities? Bonds? REal Estate? Part-time Job? All of the above?
Should you be a Walmart greeter? A Landlord? How about a Consultant? All viable options, but for the majority of Americans who have dutifully pushed money into their retirement accounts, the idea of working part time should be an option, not a necessity. You can begin to take social security at 62 and each year you defer, your income will rise by 8% until you are 70. 63% of adult SS recipients rely on SS for at least half their income; 43% get three-quarters of their income from SS and for more than 27% of American retirees, it is their only source of income. Most Americans believe $5k/mo is a sufficient income in retirement, yet the average SS in 2025 is approximately $2k/month. At incomes and legacies, we can help you analyze your expenses and income requirements and provide you with different pros and cons based on your personal situation to maximize your income beyond SS.
https://www.morningstar.com/retirement/how-generate-retirement-income
https://www.fidelity.com/news/article/investing-ideas/202504291858BANKRATEBANKRATE632206395
