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How to Prepare for Retirement Income Planning
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In this episode of 'Finding Meaning in Life, Love and Money' with Suresh Basnet, Suresh provides a comprehensive guide on planning and preparing for retirement income.
Suresh breaks down the essential steps in creating a financial plan to avoid running out of money during retirement, including setting goals, minimizing taxes, and considering various types of income and assets.
He also emphasizes the importance of professional financial planning and addresses the need to incorporate long-term care, healthcare, and funeral expenses into one's retirement plans.
Suresh outlines strategies for efficiently managing taxable and tax-free assets to optimize financial security for oneself and future generations.
00:00 Introduction and Meditation
01:39 Importance of Retirement Planning
07:04 Types of Retirement Income
09:18 Designing a Financial Plan
20:18 Tax Planning Strategies
28:16 Conclusion and Final Thoughts
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