This week on the Lifetime Income Series, Jim and Cathlyn talk about wealth planning, specifically how to maintain your lifestyle in retirement, and protect your spouse and your children. They are really talking about a multi-generational plan, not just a plan to get to retirement. In discussing strategies to protect your lifestyle in retirement, Jim mentions one of the keys is having an increasing revenue source that can protect against inflation. They also discuss how to best protect a surviving spouse, as well as children. Jim illustrates some of these strategies in the case study of Jack and Barbara Bates. The guest this week is Cindy Hounsell, president of the Women’s Institute for a Secure Retirement. Cathlyn and Cindy discuss the subject of “suddenly single”; how to handle assets after divorce or the death of a spouse
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