How Not To Go Broke During Retirement
The retirement-risk-zone is the period shortly before and after you retire. If you manage this period properly you will have substantially more money for the rest of your life than if you get careless at this time.
For the sake of planning, let's say the period is five years before and five years after you retire and start taking an income from your savings. Let's say you have your money invested in mutual funds.
You know that mutual funds sometimes get a positive return and sometimes you lose money. Unfortunately, if your investments lose money around the time you are starting to draw an income, your retirement-risk-zone, it could be devastating.
When you are approaching retirement you need to consolidate the part of your portfolio that you will be drawing an income from first. You need to put it into a vehicle that protects you from falling stock market trends and even gives you guarantees that your money will grow.
In addition, you need to set things up so you can withdraw extra money if you want to travel or need a lump sum amount for an emergency. You don't want to be locked into something that restricts you from living your life your way.
Ideally, you want to be in a situation where you can potentially increase your income with inflation, or better.
And wouldn't it be nice if you could get a tax break on top of all that.
There are many different options for investors to help you manage the retirement-risk-zone... more than you may have thought of. Since everyone has their own circumstances and goals, one type of investment isn't appropriate for everyone.
For a full discussion on how one person can earn over a million dollars more than they started with and another person might go broke in just a few years, sign in to the membership area to download the report called "
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