Income
Income means that your investments produce a revenue stream you can either reinvest or use to live. Lou is a retired physician. He has a quality of life that is very important to him, and he has no intention of giving it up. He is not concerned about leaving any assets to his heirs. His goal is to generate as much income as he can from his investments, including social security, and he’s going to spend all of it.
Lou: My children are very successful, and they don’t need any financial assistance from me. I’ve worked in a demanding field of medicine for a long time, and I made plans that I was going to enjoy my retirement. I’m not interested in growing my capital because I don’t want to take the risk that comes with that. I’m looking for ...
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