In
the past, your focus has probably been on investing your
portfolio to achieve the maximum amount of growth at
the level of risk you’re comfortable taking. But when
it’s time to start drawing
on the retirement assets you’ve accumulated, your investment
priorities may change.
Many people spend 20 or 30 years in retirement. That means you’ll want to continue to invest even as you begin spending your assets. But you may consider shifting some of your portfolio from stocks to bonds or insured accounts to produce more income with fewer risks.
It’s equally important to have a strategy for converting your savings into a
source of income during retirement, especially since some of the choices you
make could be irrevocable or have a major impact on your financial security.
The right plan should help you make the most of your investments and avoid potential
pitfalls along the way.
These tax-deferred retirement
savings plans can be converted to a stream of retirement
income.
IN THE NEWS
New
401(k) inheritance rulesThe
Pension Protection Act may make it easier to leave
your 401(k) assets to a nonspouse beneficiary without
triggering a big tax bill.
