Welcome back to another episode of the 360 Money Matters Podcast!

In this episode, we discussed the concept of being asset-rich but cash flow-poor in the context of retirement. The accumulation of assets without sufficient income, due to tax considerations, can lead to challenges during retirement. The options presented included liquidating assets for income-producing alternatives, downsizing the family home, considering reverse mortgages, or purchasing a downsized home early. Proactive financial planning, with advice tailored to individual circumstances, is crucial. It is essential to seek personalized advice from a financial advisor, tailored to specific goals and circumstances.

This episode is packed with valuable insights and strategies, all tailored to help you navigate your financial future. Tune in and empower yourself with knowledge!

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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706

Episode Highlights

• The concept of being asset rich and cash flow poor

• Strategies to transition from relying on personal income to generating investment income

• Asset types for those in asset rich, cash flow poor situation

• Importance of having a clear exit strategy

• Cash flow issues

• Planning ahead and seeking personalized financial advice

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