Don’t Make These Income Planning Mistakes

The Income For Life Show

Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future.

After a brief hiatus due to Matt being sick, we are excited to be back! We’ll kick off this episode with some excellent getting-to-know-you questions before jumping into our quotes of the week. For this week’s mailbag question, Annie asks whether it's better to take an extra $20,000 out of her IRA or to take out a home equity loan to cover the cost of putting in a screened-in porch.

For this week’s Retirement Ride Along segment, we chat about our recent trip to Sonoma and Napa Valley in California.

Here’s some of what we discuss in this episode:

• Catching up after a brief hiatus (1:36)
• Get-to-know-you questions: Watching movies, favorite Halloween costume, favorite grade in school (13:02)
• Quote of the week: Proverbs and Abraham Lincoln (27:36)
• Main topic: Top 5 income planning mistakes that could jeopardize your retirement (29:04)
• Mailbag: “I want to put in a screened-in porch, but the only way I could pay for it would either be taking an extra 20,000 out of my IRA this year or taking out a home equity loan to cover it. Which is better?” (41:22)
• Retirement Ride Along: Visting the wine country of America (47:06)

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Links From Today’s Show:

Fairmont Sonoma Mission Inn & Spa

https://www.fairmont.com/sonoma/

Highway 12 Vineyards and Winery

https://www.highway12winery.com/

Zina Hyde Cunningham

https://www.zinawinery.com/

Viansa

https://www.viansa.com/

Benziger Family Winery

https://www.benziger.com/

The Donum Estate

https://www.thedonumestate.com/

Ram’s Gate Winery

https://ramsgatewinery.com/

El Dorado Hotel & Kitchen

https://eldoradosonoma.com/

Tammy the Private Driver

Email: [e-mail]

Vineyard 29

https://vineyard29.com/

Vineyard Seven and Eight

https://www.vineyard7and8.com/

Folklore

https://folklore-napa.com/

Vermeil Wines

https://www.vermeilwines.com/

Blue Note Jazz

https://www.bluenotejazz.com/napa/

Demola the Violinist

https://www.demolatheviolinist.com/

LaToque

https://latoque.com/

Promontory

https://www.promontory.wine/