Choosing the right strategy for you is made up of several parts. We need to understand your retirement goals, your risk tolerance, and current situation to create a good accumulation plan. Just throwing your money somewhere without a plan is like saying, "Just put it all on black."
Proper income planning can make or break a financial plan. The first step is to determine how much money is needed to live on. According to traditional planning, you can withdraw 3% of the account balance annually adjusted for inflation to likely not run out of money.