Five Financial Decisions for retirees

When you’re working, you have a financial strategy that is largely based on one goal; saving money for a comfortable retirement. You’ll likely have to make many adjustments over several decades to ensure that you stay on track saving and investing. But once you retire, a new goal arises – investing so you can remain retired. To help yourself achieve this goal, you will need to make a number of investment decisions.

Which of these decisions are most important? Here are five to consider:
1. How much will you spend each year?
2. How should you balance your investment portfolio to provide sufficient income and growth opportunities?
3. How much should you withdraw each year from your investment portfolio?
4. From which accounts should you begin taking withdrawals?
5. When should you take social security?

As you can see, you’ll need a lot of expertise to successfully manage your financial advisor and a tax professional, now would be a good time to start. Once you’ve got your financial strategy in place, you’ll be better prepared to enjoy an active, fulfilling retirement.