Saving and investing for the future presents challenges at any age. Risks that affected your life one way while you were in the workforce can have a different effect in retirement. Understanding these risks can mean the difference between living the retirement of your dreams or just muddling through.
Choose What You Would Like to Learn About Today
Take a Closer Look at Your Portfolio
As you get closer to leaving the workforce, it's imperative to have a plan in place that clearly spells out how to manage your income, assets, and expenses during your retirement years. As part of this process, it's helpful to understand some of the challenges you may face, as this will impact your plan and help you maintain a disciplined approach as you move through your golden years.
Understand the Risks
Inflation can take a toll on your retirement nest egg and long-term financial security. Fortunately, there are several strategies you can employ to help combat rising prices.
Make a Plan
Transitioning into retirement is an exciting phase of your life. With extra time on your hands you can pursue your passions, as well as find new ways to enrich your life and the lives of others. Moving from a full time job to retirement also has implications for your financial plan and asset allocation strategy, as you'll be moving from the "accumulation phase" to the "distribution phase."