{"id":36153,"date":"2023-03-21T09:37:27","date_gmt":"2023-03-21T13:37:27","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=36153"},"modified":"2023-03-21T09:37:27","modified_gmt":"2023-03-21T13:37:27","slug":"business-report-what-goes-into-a-retirement-paycheck","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2023\/03\/business-report-what-goes-into-a-retirement-paycheck\/","title":{"rendered":"Business Report: What Goes Into A Retirement \u2018Paycheck\u2019?"},"content":{"rendered":"<figure id=\"attachment_34673\" aria-describedby=\"caption-attachment-34673\" style=\"width: 197px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-34673 size-medium\" src=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/10\/ed-jones-john-gable-197x300.jpg\" alt=\"\" width=\"197\" height=\"300\" srcset=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/10\/ed-jones-john-gable-197x300.jpg 197w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/10\/ed-jones-john-gable.jpg 432w\" sizes=\"auto, (max-width: 197px) 100vw, 197px\" \/><figcaption id=\"caption-attachment-34673\" class=\"wp-caption-text\">John M. Gable joined Edward Jones Financial after a 30-year career in the IT business.<br \/>Courtesy Edward Jones Financial<\/figcaption><\/figure>\n<p>By John Gable<\/p>\n<p>During your working years, you generally know how much money you\u2019re bringing in, so you can budget accordingly. But once you\u2019re retired, it\u2019s a different story. However, with some diligence, you can put together a \u201cpaycheck\u201d that can help you meet your income needs. <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Where will this paycheck come from? Social Security benefits should replace about 40 percent of one\u2019s pre-retirement earnings, according to the Social Security Administration, but this figure varies widely based on an individual\u2019s circumstances.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Typically, the higher your income before you retire, the lower the percentage will be replaced by Social Security. Private pensions have become much rarer in recent decades, though you might receive one if you worked for a government agency or a large company. But in any case, to fill out your retirement paycheck, you may need to draw heavily on your investment portfolio.<span class=\"Apple-converted-space\">\u00a0 \u00a0<\/span><\/p>\n<p>Your portfolio can provide you with income in these ways:<\/p>\n<p><b>\u2022 <\/b>Dividends. When you were working, and you didn\u2019t have to depend on your portfolio for income to the extent you will when you\u2019re retired, you may have reinvested the dividends you received from stocks and stock-based mutual funds, increasing the number of shares you own in these investments.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>And that was a good move, because increased share ownership is a great way to help build wealth. But once you\u2019re retired, you may need to start accepting the dividends to boost your cash flow.<\/p>\n<p><b><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span>\u2022 <\/b>Interest payments. The interest payments from bonds and other fixed-income investments, such as certificates of deposit (CDs), can also add to your retirement income. In the years immediately preceding their retirement, some investors increase the presence of these interest-paying investments in their portfolio. (But even during retirement, you\u2019ll need some growth potential in your investments to help keep you ahead of inflation.)<\/p>\n<p><b>\u2022 <\/b>Proceeds from selling investments. While you will likely need to begin selling investments once you\u2019re retired, you\u2019ll need to be careful not to liquidate your portfolio too quickly. How much can you sell each year?<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The answer depends on several factors \u2014 your age, the size of your portfolio, the amount of income you receive from other sources, your spouse\u2019s income, your retirement lifestyle, and so on. A financial professional can help you determine the amount and type of investment sales that are appropriate for your needs while considering the needs of your portfolio over your lifetime. <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>When tapping into your investments as part of your retirement paycheck, you\u2019ll also want to pay special attention to the amount of cash in your portfolio.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>It\u2019s a good idea to have enough cash available to cover a year\u2019s worth of your living expenses, even after accounting for other sources of income, such as Social Security or pensions. In addition, you may want to set aside sufficient cash for emergencies.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Not only will these cash cushions help you with the cost of living and unexpected costs, but they might also enable you to avoid digging deeper into your long-term investments than you might like.<\/p>\n<p>You may be retired for a long time \u2014 so take the steps necessary to build a consistent retirement paycheck.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By John Gable During your working years, you generally know how much money you\u2019re bringing in, so you can budget accordingly. But once you\u2019re retired, it\u2019s a different story. However, with some diligence, you can put together a \u201cpaycheck\u201d that can help you meet your income needs. \u00a0 Where will this paycheck come from? Social [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":34673,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-36153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-reports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Business Report: What Goes Into A Retirement \u2018Paycheck\u2019? - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2023\/03\/business-report-what-goes-into-a-retirement-paycheck\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Business Report: What Goes Into A Retirement \u2018Paycheck\u2019? - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By John Gable During your working years, you generally know how much money you\u2019re bringing in, so you can budget accordingly. 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Gable, financial adviser with Edward Jones Financial in Warrensburg. 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