Welcome to the Gary Abbott YouTube channel! In this video, I tackle a question from Frank about starting retirement, building a reliable “retirement paycheck,” and making smart decisions about Social Security and Medicare. Drawing from my own journey and practical experience—not as a financial advisor, but as a retiree navigating these important choices—I break down strategies for creating consistent income, maximizing savings, and preparing for healthcare costs in retirement.
You’ll learn tips on:
• Transitioning from saving and investing to spending in retirement
• Constructing a retirement paycheck from Social Security, Roth IRAs, CDs, and other sources
• Considering when to take Social Security—early or late retiree strategies
• Understanding the impact of Medicare options, including Medicare Advantage and Supplement plans
• Balancing risk, taxes, and income allocation using the bucket method
• Evaluating annuities, pensions, and the planning process for both spouses
Plus, I share why budgeting is crucial, how to estimate taxes in retirement, and considerations for healthcare coverage, especially if retiring before age 65. Whether you live in The Villages or are planning to retire anywhere, these are the essentials for building a retirement plan you can count on.
Want to make a budget for retirement go to my latest budget video and copy my simple Excel budget template in the description of the video.    • Making a Complete Personal Budget  in 2025...  
Don’t forget to like, comment, and subscribe if this helped—or if you have questions about a specific aspect of retirement planning!
KEYWORDS: The Villages Florida, retirement paycheck, Social Security strategies, how to build retirement income, Medicare plans, bucket method, Roth IRA, 401k tips, retirement budgeting, retirement tax strategy, budgeting tools, financial independence, retiree advice, living in The Villages, retirement planning, annuities explained, financial planning after 60, fixed income tips, healthcare in retirement, best retirement strategies
                         
                    
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