Flow of Fortune: Understanding Retirement Through the Water Wheel

The Income For Life Show

Many of us are familiar with how a water wheel works. A constant stream of running water keeps the wheel turning so it can do the work it’s supposed to accomplish (whether turning millstones to grind grain in the 19th century or turning turbines to create hydroelectricity in today’s world). If the stream of water stops running, the wheel stops turning. So, how does a water wheel relate to retirement planning? We’ll tell you how in today’s episode.

As always, we’ll kick off the show with some getting-to-know-Matt and Sam questions and share some great quotes of the week relating to retirement planning. This week, we’ll also discuss one of our retirement manual series, The Retirement Playbook: Lessons From The Retirement All-Stars.

For this week’s mailbag question, Lenny from Omaha asks whether it would be advisable to withdraw approximately $90,000 from his IRA to purchase a townhouse for rental income. For this week’s Retirement Ride Along segment, Matt and Sam talk about their recent trip to Parkville, Missouri.

Here’s some of what we discuss in this episode:

• Get-to-know-you questions: The best thing about being an adult, closet doors, and more. (5:06)
• Quote of the week from Ben Franklin and Jim Rohn (22:48)
• Lessons From the Retirement All-Stars (24:37)
• Main topic: Understanding Retirement Through the Water Wheel (30:20)
• Mailbag: “Would it be a bad idea to withdraw approximately $90,000 from my IRA to purchase a townhouse for rental income?” (43:10)
• Retirement Ride Along: An afternoon in the beautiful Parkville, Missouri (52:28)

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Links From Today’s Show:

The National Golf Club:

https://www.invitedclubs.com/clubs/the-national-golf-club

The Craic:

https://craiconmain.com/