St. Patrick’s Day is all about celebrating good fortune, but when it comes to retirement, relying on plain luck just isn’t a plan — it’s a gamble. An enjoyable, secure retirement doesn’t happen by chance. It takes smart planning, the right strategy, and a focus on dependable income.

Rethinking Retirement: Why Income Matters More Than Growth

Traditional retirement strategies focus on growing a big investment portfolio, hoping the market will deliver strong returns over time. But what happens when the market dips at the wrong time? If your plan depends on selling investments for cash, you could end up pulling money out at a loss — shrinking your nest egg faster than expected.

Many financial advisors once believed retirees could safely withdraw 4% of their principal annually without running out of money. Plenty still do. But the problem? That number is always changing. Some say 2.7%, others say 5% — there’s no universal agreement. This uncertainty makes it an unreliable foundation for retirement planning. Worse, if market downturns hit early in retirement, withdrawing principal can significantly shorten the lifespan of your savings.

The truth is that you cannot put your trust in the 4% rule.

That’s why an income-first approach makes so much sense. Instead of gambling on market growth, this strategy prioritizes reliable income — kind of like getting a steady paycheck in retirement. That way, no matter what’s happening on Wall Street, you’ll still have the cash flow you need to cover your expenses and enjoy your lifestyle. 

The Power of an Income-First Investment Strategy

Shifting to an income-first mindset means focusing on investments that generate steady cash flow. Think bonds, dividend-paying stocks, annuities, and other income-producing assets. This strategy helps reduce risk and gives you more control over your financial future.

Here’s why an income-first approach is a game-changer:

1. Consistency Over Uncertainty: Reliable income means you’re not at the mercy of market swings when it comes to covering your expenses.
2. Less Dependence on Market Performance: Instead of worrying about stock market ups and downs, your retirement plan is built on steady, predictable income.
3. Better Budgeting & Peace of Mind: Knowing exactly how much you’ll receive each month makes it easier to plan and reduces financial stress.

Create Your Own Luck with Smart Planning

Sure, we all love a little Irish luck. But a secure retirement isn’t about four-leaf clovers — it’s about preparation. A well-thought-out plan looks beyond just building wealth; it ensures your money works for you, providing long-term stability and confidence.

An income-first strategy helps you avoid common retirement pitfalls. Traditional stock-heavy portfolios often focus on growth-first investing, which may work during strong market years but can leave retirees vulnerable during prolonged market downturns. A strategy that prioritizes income-producing investments like bonds, preferred securities, real estate investment trusts (REITs), and dividend-yielding stocks ensures financial stability even in uncertain markets.

Take Control of Your Retirement Future

During this St. Patrick’s Day, don’t leave your retirement to chance. Work with an income specialist who can help you build a strategy that prioritizes security and reliability.

By shifting to an income-first approach, you’re not just planning for retirement — you’re securing it. You don’t need luck to achieve a fulfilling retirement, but you do need the right plan. With a smart approach, you can enjoy the confidence of knowing you’re on a secure path to eternal income — no charms required!