The Best Way to Generate Retirement Income [Podcast]

Mindset shift: accumulator ? decumulator
When you stop adding savings, market drops feel like an attack on your paycheck. That fear often pushes investors into high-yield products. Mike explains why this can be costly and how to spend guilt-free within a plan.

Keep what works
If your strategy served you for decades, you likely need tweaks, not a makeover. Clean up oversized positions, confirm risk tolerance, and set withdrawal rules—without throwing out a winning playbook.

Fixed income’s role in 2025+
GICs/bonds can steady nerves and fund a cash wedge. Use them to bridge the gap between portfolio income and withdrawals (typically ~3 years of the gap, not 3 years of full spending).

Yield vs. total return
Distributions and dividends are not guarantees—they come from total return. If return < withdrawal, the pie shrinks. Focus on sustainable withdrawals (5–6% with flexibility) and process, not headline yields.

Why low yield + high growth can be safer
Firms with strong balance sheets and rising earnings tend to defend (and raise) dividends through cycles. That often beats high-yielders that freeze or cut when it hurts most.

“Be the firm” (DIY income)
Don’t pay a product to sell shares for you. Build a cash wedge, sell a few units in up years, draw the wedge in down years, and refill. You stay in control, lower fees, and keep more upside.

Simplicity wins
As you age, complexity becomes a risk. A clear asset mix, annual projection review, and straightforward withdrawal order beat fancy tax contortions that add noise for tiny gains.

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