As we head into our golden years, retirement looms large. If we want to maintain our current and future level of living, we’ll need to do some careful planning, management, and investment of our resources while we’re still working or running a business. Planning for retirement should begin early, when a person has a high-risk tolerance and can invest in risky assets like stock markets, hedge funds, and private equity, before shifting to safer investments like money market accounts, government bonds, and real estate as they get older. What is retirement income planning? Preparing for the change from earned income to retirement income is called retirement income planning. Social Security, part-time work, investments, annuities, and pensions are just a few available income replacement options. Most Americans’ retirement savings depend heavily on Social Security. Roughly half of all retirees in the United States rely on Social Security for at least half […]