This episode breaks down what we consider the core pillar of our entire investing framework: the income-first retirement portfolio.

An income-first strategy prioritizes interest and dividends as the primary source of retirement cash flow, with price appreciation treated as a secondary benefit. This is fundamentally different from the traditional total-return approach, which relies on selling shares to generate income.

In this episode, we cover:

• What an income-first retirement portfolio actually is
• How it differs philosophically and practically from total-return / 4% rule strategies
• Why selling assets in down markets creates sequence-of-returns risk
• The benefits of predictable, internally generated cash flow
• The biggest mistake income investors make: stretching for yield
• Asset types commonly used in income-first portfolios:
  • Dividend-paying stocks and dividend growers
  • Bonds and bond ladders
  • REITs and preferred stocks
  • Closed-end funds (CEFs)
  • Annuities (with important caveats)
• Real examples from our own portfolios, including dividend growers, income ETFs/CEFs, and higher-yield income producers
• How we use income from higher-yield assets to pay bills and reinvest into more stable dividend growth assets

We also walk through the first steps to building your own income-first portfolio:

• Defining your income goal and time horizon
• Calculating the gap between expenses and guaranteed income
• Treating your portfolio like a business that produces surplus cash flow
• Assessing emotional and financial risk tolerance for 2026
• Building emergency buffers so income assets are never forced to be sold

This episode isn’t about chasing returns or predicting markets.
It’s about building a retirement strategy designed for stability, predictability, and peace of mind—one where your portfolio works for you instead of being slowly dismantled.

Questions? Email Tim at debrine9@gmail.com

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**DISCLAIMER**
Ticker metrics change as markets and companies change, so always do your own research. The content in this podcast is based on personal experience and is for educational purposes, not financial advice. See full disclaimer here.

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