Penguin Bitesize Guide #7: Retiring Soon? About to Retire? Just Retired? Then Learn All About Decumulation

The convention suggests when you are somewhere around the point of Retirement, you should think about and execute “planning your Retirement Income”.

This is a great example where language and how something is described (in terms of words or a title) can be unhelpful.

Retirement Income Planning is a straightforward, uncomplicated exercise. However, that is not what most people in this position need.

They need to work out how to accumulate, which is a completely different thing.

And decumulation is complex, quite unlike anything you will have dealt with before.