What Changes Once You Retire?
Once you retire, you move from the asset accumulation stage to the asset preservation stage. This typically means that your money needs to keep earning money if it’s going to last.
But with proper investment management, retirement can be the best time of your life.
Some of the most common questions retirees need to address, are:
- What accounts should I use to live on, and in what order?
- Will my investments change?
- What happens if the market crashes?
- Do I need to buy long-term care insurance?
- Should I roll my 401(k) over into an IRA?
- Will my assets automatically pass on to my spouse or heirs?
- Should I take Social Security now, or wait until later?
Savvy asset allocation and proactive portfolio management are essential components of successful retirements. If you’re retired, or considering making the transition, it’s critical you understand how to both preserve and grow your money.