Retirement income: Why we need both, an income stream and a corpus

We all need both a corpus and an income stream. This thought kept coming back to me after talking to a friend’s father, who had just sold his ancestral house. He wants to distribute the proceeds to his sons and I was asking him to split it three ways. “We enjoy an amicable relationship, as you always write,” he told me.The issue is not just about distributing it among heirs. It is also about agency. To have agency is to have control so that your thoughts and behaviour are not beholden to someone else. Our ability to be decisive and true to our beliefs depends on whether we have agency. Money offers unique power and control that enables agency. 

Click here for more