Sep 22, 2026 · 13 min · 7 segments
Think you're years away from retirement? You may be closer than you realize, but replacing your paycheck takes more planning than most people expect. Ryan Herbert and Katherine Groce discuss what it…
Ryan HerbertHost
Catherine GrossGuest
Jennifer PerryHost
I feel like you should definitely diversify your income beyond one retirement account.
We're big believers in specific buckets of money having specific goals for your retirement.
But she basically told me that by the age 50, early 50s, she wants to be retired.
She had a high salary, which her budget wasn't, you know, she wasn't spending near as much as she was bringing in income wise.
And what we figured out is, you know, IRA accounts you can't touch until you're 59 and a half.
There is some little tricks where you can leave money with your employer that you're retiring from and access it as a separated from service withdrawal.
But without a 401k, let's say you just have IRA money, then you're going to need a bucket of money that you can access before 59 and a half without penalty.
For this individual, she had a lot of non-qualified money, which we were able to fund an index universal life for her that basically created tax-free income for her between the ages of 50 to 59 1⁄2.
I feel like you should definitely diversify your income beyond one retirement account.
We're big believers in specific buckets of money having specific goals for your retirement.
But she basically told me that by the age 50, early 50s, she wants to be retired.
She had a high salary, which her budget wasn't, you know, she wasn't spending near as much as she was bringing in income wise.
And what we figured out is, you know, IRA accounts you can't touch until you're 59 and a half.
There is some little tricks where you can leave money with your employer that you're retiring from and access it as a separated from service withdrawal.
But without a 401k, let's say you just have IRA money, then you're going to need a bucket of money that you can access before 59 and a half without penalty.
For this individual, she had a lot of non-qualified money, which we were able to fund an index universal life for her that basically created tax-free income for her between the ages of 50 to 59 1⁄2.
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