TRANSITIONING FROM WORK TO RETIREMENT IS FRAUGHT WITH FINANCIAL RISKS. SPECIALISTS EARHART & HOPKINS EXPLAIN HOW TO DO IT SUCCESSFULLY

Two retirement income specialists, Professor Jamie Hopkins and Financial Advisor, Steven Earhart show us how to create our own paycheck in retirement.

WEALTHTRACK Episode #1341; Originally Broadcast on March 31, 2017
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STEVEN EARHART

• Owner,
• Devon Financial Partners, LLC.

JAMIE HOPKINS

• Associate Professor,
• The American College of Financial Services

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DEVELOP AN ALTERNATIVE RETIREMENT INCOME SOURCE

• Can tap during market declines
• Avoid drawing down investment portfolio

ADVANCE PLANNING

• Set up home equity line of credit
• Establish reverse mortgage line of credit
• Set up when conditions are favorable
• Can use when they are not

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EARHART: GUARANTEED INCOME

• Create a guaranteed income stream to cover fixed expenses
• Consider an annuity strategy as a source of lifetime income

HOPKINS: TAX DIVERSIFICATION

• Convert assets to a Roth IRA or Roth 401 (k) when you are near retirement or just in retirement
• Income from a Roth account is not taxed

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No stock mentions in this episode.

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This is the first appearance of these guests on WEALTHTRACK.

RETIREMENT INCOME PLANNING
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Professor Jamie Hopkins is considered to be one of the leading experts on retirement income planning in the country. He was one of the creators of the curriculum for the RICP, or Retirement Income Certified Professional designation for financial advisors taught at The American College of Financial Services. How did such a young man get interested in retirement income? It started at an early age.