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Investing for Income in Retirement: Steve Selengut Retirement Money Secrets
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In this episode of the Rich Mind Podcast, host Randy Wilson interviews Steve Selengut, a retirement income coach and author of Retirement Money Secrets.
Selengut shares his investment philosophy of focusing on generating income rather than solely growing the principal. He discusses the benefits of investing in closed-end funds (CEFs) and explains how they can provide a steady income stream.
Selengut emphasizes the importance of quality, diversification, income production, and profit taking in building a successful investment portfolio. He also highlights the cyclical nature of the market and the need to be mindful of market cycles when making investment decisions.
In this conversation, Steve Selengut discusses the importance of taking profit and actively trading for profit in the stock market. He emphasizes the need to focus on income-generating securities, such as closed-end funds, to ensure a steady cash flow.
Selengut also highlights the benefits of volatility and how it can be used to one's advantage. He shares insights from his book, Retirement Money Secrets, which provides a comprehensive guide to investing for income and minimizing risk.
Overall, the conversation emphasizes the importance of an income-focused investment approach and the potential for long-term success.
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Takeaways
- Investing for income, rather than solely focusing on growing the principal, can provide a steady income stream in retirement.
- Closed-end funds (CEFs) are a type of investment vehicle that can be beneficial for generating income. They are required by law to distribute 95% of their income to shareholders.
- When investing, it is important to consider the quality of the investments, diversify the portfolio, focus on income production, and take profits when appropriate.
- Market cycles are inevitable, and investors should be mindful of where they are in the cycle when making investment decisions. Taking profit is an essential part of investing and can lead to increased income and portfolio growth.
- Actively trading for profit allows investors to capitalize on market volatility and generate additional income.
- Income-generating securities, such as closed-end funds, provide a steady cash flow and can be a safer investment option.
- An income-focused investment approach can lead to long-term success and financial stability.
Investors should prioritize generating income and ask their financial advisors about strategies to increase their portfolio's income. - The book 'Retirement Money Secrets' provides valuable insights and guidance on investing for income and minimizing risk.
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Connect with Steve 👇
https://www.linkedin.com/in/privateinvestmentmanagement/
Retirement Money Secrets Book on Amazon - https://a.co/d/dT0Jr3p
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Connect with Randy Wilson…Please check out the following links to follow and connect with me on the platform of your choice ⬇️
https://YouTube.com/@randywilson
https://Instagram.com/randywilsononline
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