Rethinking Retirement: Exploring Alternative Income Streams
Meet Lisa, a pre-retiree who was concerned about whether her current savings would be enough to support her desired lifestyle in retirement. She was intrigued by the idea of exploring alternative income streams to bolster her retirement income.
Together, we explored various options tailored to Lisa's skills, interests, and financial goals.
One option we explored was freelancing or consulting in Lisa's field of expertise. With decades of experience in her industry, Lisa had valuable skills that could be monetized on a freelance basis. We discussed creating a plan to gradually transition into consulting work, allowing Lisa to continue earning income while enjoying more flexibility and control over her schedule in retirement.
Additionally, we explored the potential for generating passive income through dividend-paying stocks, bonds, or annuities. By incorporating income-generating assets into her investment portfolio, Lisa could create a steady stream of income to supplement her retirement savings.
The result? By exploring alternative income streams, Lisa felt more confident about her financial future in retirement. By diversifying her sources of income, she could reduce reliance on traditional retirement savings accounts and create additional financial security.
Whether your considering freelance work, or other alternative income streams, I'm here to help you explore your options and create a personalized plan to achieve your retirement goals.
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Raf Meyer
Private Client Adviser
Email: [email protected]